Journal Entries and Accounting Scenarios Explained
Accounting Transactions
Initial Balances:
Box: 8,000, Bank: 53,000, Merchandise: 16,000, Effects C BC: 3,400, Clients: 14,000, Furniture: 8,000, Machinery: 10,000, Element Tran: 90,000, HP receivable: 7,000, SS Creditors Agency: 3,000, Suppliers: 17,500, C purposes P: 12,900, Creditors: 8,000, Capital: 254,000
Transaction 1
Supplier to deliver 1,500 € (+ tax) on account of a purchase within 15 days.
Journal Entry:
Advance to Supplier: 500 (407), TAX SOPRTE: 750, Bank: 1575 (572)
Transaction 2
Purchase of goods worth 14,000 € with a power drop of 2,600 €. Payment: 2,400 € by check, 1,700 € cash, 3,500 points, and the rest on credit. Discount invoice of 5% by volume for 400 €. Insurance policy (excluding taxes) to the agency aduanaspor 60 €. Transport costs 80 € (plus TAX) paid to tranport the wheel.
Journal Entry:
Goods: 13,040 (600), Power Drop: 2,600 (406), TAX: 704 (472), Advance: 1,500 (407) to Bank: 2,400 (572) to Cash: 1,844 (570), to Suppliers: 3,500 (401) at (400)
Transaction 3
Return of containers from previous purchase: 1,600, 500 were missing, and we are left with the rest (plus IGIC).
Journal Entry:
Suppliers: 1,680 (400), (602) 1,000 to Power Drop: 2,600 (406), Bank: 80 (472)
Transaction 4
Early payment to the previous provider, granting a 4% discount on the value of Purchase (plus IGIC).
Journal Entry:
Suppliers: 5,240 (400) to Bank: 5,192 (572), Discount: 217 (606), Bank: 11 (472)
Transaction 5
Sale of merchandise for 9,000 €. Return of 2,800 €. Discount on bill of 4% and a volume discount of 400 € (not in bill). Transport costs of 500 €, effective 1,500 €, 2,000 € checks, and the rest is left for duty. A discount of 5% ppp (not bill) is applied.
Journal Entry:
Bank: 2,500 (572), Cash: 1,500 (570), Discount: 400 (709), Transport: 500 (624), Bank: 25 (472), Discount: 200 (706), Clients (7382430)
Transaction 6
Client accepts € 3,000 with a maturity of 60 days.
Journal Entry:
Promissory Notes Receivable: 3,000 (4310) to Clients: 3,000 (430)
Transaction 7
Negotiated earlier point in the BBVA, charging 90 € to 30 € interest and commission (do not include taxes).
Journal Entry:
Promissory Notes Receivable in Bank: 3,000 (4311), a (4310) 3,000
Transaction 8
Maturity of the previous point, the book letter and the bank pays us back, we will debit the amount of such L / plus 80 € for any refund.
Transaction 9
Merchandise returns for 750 € (TAX included) for not conforming to Pedda, but we offer a discount of 350 if one gets the merchandise, fool that accepts.
Transaction 10
Payment of employee salaries: 20,000 €. Deductions: 900 € for retention of the SS, 1,800 € SS benefits, 2,300 € per income tax deductions, 3,000 € SS in charge dela company, 600 € per loan repayments. Payment is made by check to all staff but one not found on the island that ascends to 800 €.
Transaction 11
Contract the purchase of a machine worth € 100,000 with a deposit of 20% in check BBVA.
Transaction 12
Received the previous machine, the payment being delayed for a year.
Transaction 13
Purchase of treasury shares through the bank: 500 shares of the company Afure SA de 8 € nominal € 20 change the action, fully paid the expenses of the operation which is 3 per thousand of brokerage and 25 € for other expenses.
Transaction 14
Sell in bank stock 150 shares of the company Afure change the action of € 18, with 3 per thousand brokerage and other costs 8 €.
Transaction 15
Sale of a truck for 20,000 €. Acquisition cost was 38,000 (Mas IGIC). Depreciation to date of 19,000. 12,000 are charged by the bank and the remainder not paid in 3 years.