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    Devry University
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Category > Accounting Posted 07 Dec 2017 My Price 10.00

Build a Balance Sheet and P&L of the company

You start a Business with a Company called Sweet Dreams that produces software in Jan 2017.

 

Build a Balance Sheet and P&L of the company Sweet Dreams for each period from January to June 2017 (included) according to the following transactions:

  1. January: The business starts in January with 3.000.000 EUR in capital and Liabilities (loan capital) of 1.000.000€

 

 

2. February: The company buys furniture for 3.600€ with an amortization period of 3 years. Include the depreciation starting in February.

 

 

 

3. March: The company starts to pay monthly rental for 2,000€, salaries for 100,000€, and monthly loan interests of 5000€.

Also the company Sweet Dreams pays interests (5.000€)

The company sells software for 25,000 € with a Payment term of 30 days.

Check if you need to include depreciation.

 

 

4. The next month April, Customers transfer to our Bank account the 25,000€ from last month but there is no additional sales. The company pays as each month, the monthly salaries, interest and rental we specify in March. Check if you need to include depreciation.

 

 

 

5. May: The company sells 50,000€ with a customer payment term of 30 days. The company pays as each month, the monthly salaries, interest and rental we specify in March. Also, check if you have depreciation costs.

 

 

6. June: Sweet Dreams collects 50.000€ from its customer from the previous month.

The Company Sweet Dreams spends 8.000€ in a marketing campaign with an agency payable in 30 days. The company pays as each month, the monthly salaries, interest and rental we specify in February. Also, check if you have depreciation costs.

What is the resulting balance sheet and P&L at the end of each month until June (included)?

Answers

CourseLover
(12)
Status NEW Posted 07 Dec 2017 05:12 AM My Price 10.00

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