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1) A company is established, the owners provide 30,000€. This amount is immediately deposited into the company's banks checking account. * 2. Costs for setting up the business for 800€, were paid from the bank account * 3. A local bank granted us a long-term loan of 100.000€ that was deposited in our bank account. 4. Acquisition of Machinery valued at €22,000, amount due in 30 days. * 5. Sale of merchandise on open account (60 days): €5,000. * 6. The company receives the invoice for the energy expenses of the actual period (€300). The invoice will be paid in 30 days. * 7. Payment to suppliers of Machinery €22,000. (Transaction 4) * 8. One customer pays the amount due (€ 5,000) by bank transfer * 9. The company receives the repair invoice of our machinery (€200). This amount is paid from our bank account * 10. Purchase of merchandise (1.500€) on credit (60 days): * 11. Payment to the suppliers of the previous transaction by check * Requirement 1 Make journal entry Requirement 2. Regarding the trial balance of the exercise. The sum of the first two columns (SUMS Columns) value equals A Amount =188,300€ (Debit and Credit Column) B Amount =135,300€ (Debit and Credit Column) C Amount =188,300€ (Debit Column) and 135,300€ (Credit Column) D Amount =135,300€ (Debit Column) and 188,300€ (Credit Column) E Amount = 175.000 (Debit and Credit Column) F Amount = 175.300 (Debit and Credit Column) Requirement 3. Regarding the trial balance of the exercise. The sum of the last two columns (BALANCE Columns) value equals: A Amount =188,300€ (Debit and Credit Column) B Amount =135,300€ (Debit and Credit Column) C Amount =188,300€ (Debit Column) and 135,300€ (Credit Column) D Amount =135,300€ (Debit Column) and 188,300€ (Credit Column) E Amount = 125.000 (Debit and Credit Column) E Amount = 125.300 (Debit and Credit Column)

1) A company is established, the owners provide 30,000€. This amount is immediately deposited into the company's banks checking account. * 2. Costs for setting up the business for 800€, were paid from the bank account * 3. A local bank granted us a long-term loan of 100.000€ that was deposited in our bank account. 4. Acquisition of Machinery valued at €22,000, amount due in 30 days. * 5. Sale of merchandise on open account (60 days): €5,000. * 6. The company receives the invoice for the energy expenses of the actual period (€300). The invoice will be paid in 30 days. * 7. Payment to suppliers of Machinery €22,000. (Transaction 4) * 8. One customer pays the amount due (€ 5,000) by bank transfer * 9. The company receives the repair invoice of our machinery (€200). This amount is paid from our bank account * 10. Purchase of merchandise (1.500€) on credit (60 days): * 11. Payment to the suppliers of the previous transaction by check * Requirement 1 Make journal entry Requirement 2. Regarding the trial balance of the exercise. The sum of the first two columns (SUMS Columns) value equals A Amount =188,300€ (Debit and Credit Column) B Amount =135,300€ (Debit and Credit Column) C Amount =188,300€ (Debit Column) and 135,300€ (Credit Column) D Amount =135,300€ (Debit Column) and 188,300€ (Credit Column) E Amount = 175.000 (Debit and Credit Column) F Amount = 175.300 (Debit and Credit Column) Requirement 3. Regarding the trial balance of the exercise. The sum of the last two columns (BALANCE Columns) value equals: A Amount =188,300€ (Debit and Credit Column) B Amount =135,300€ (Debit and Credit Column) C Amount =188,300€ (Debit Column) and 135,300€ (Credit Column) D Amount =135,300€ (Debit Column) and 188,300€ (Credit Column) E Amount = 125.000 (Debit and Credit Column) E Amount = 125.300 (Debit and Credit Column)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1) A company is established, the owners provide 30,000€. This amount is immediately deposited into the company's banks checking account. * 2. Costs for setting up the business for 800€, were paid from the bank account * 3. A local bank granted us a long-term loan of 100.000€ that was deposited in our bank account. * 4. Acquisition of Machinery valued at €22,000, amount due in 30 days. 5. Sale of merchandise on open account (60 days): €5,000. 6. The company receives the invoice for the energy expenses of the actual period (€300). The invoice will be paid in 30 days. * 7. Payment to suppliers of Machinery €22,000. (Transaction 4) * 8. One customer pays the amount due (€ 5,000) by bank transfer * 9. The company receives the repair invoice of our machinery (€200). This amount is paid from our bank account * 10. Purchase of merchandise (1.500€) on credit (60 days): * 11. Payment to the suppliers of the previous transaction by check * Requirement 1 Make journal entry Requirement 2. Regarding the trial balance of the exercise. The sum of the first two columns (SUMS Columns) value equals: A Amount =188,300€ (Debit and Credit Column) B Amount =135,300€ (Debit and Credit Column) C Amount =188,300€ (Debit Column) and 135,300€ (Credit Column) D Amount =135,300€ (Debit Column) and 188,300€ (Credit Column) E Amount = 175.000 (Debit and Credit Column) F Amount = 175.300 (Debit and Credit Column) Requirement 3. Regarding the trial balance of the exercise. The sum of the last two columns (BALANCE Columns) value equals: A Amount =188,300€ (Debit and Credit Column) B Amount =135,300€ (Debit and Credit Column) C Amount =188,300€ (Debit Column) and 135,300€ (Credit Column) D Amount =135,300€ (Debit Column) and 188,300€ (Credit Column) E Amount = 125.000 (Debit and Credit Column) F Amount = 125.300 (Debit and Credit Column)
Transcribed Image Text:1) A company is established, the owners provide 30,000€. This amount is immediately deposited into the company's banks checking account. * 2. Costs for setting up the business for 800€, were paid from the bank account * 3. A local bank granted us a long-term loan of 100.000€ that was deposited in our bank account. * 4. Acquisition of Machinery valued at €22,000, amount due in 30 days. 5. Sale of merchandise on open account (60 days): €5,000. 6. The company receives the invoice for the energy expenses of the actual period (€300). The invoice will be paid in 30 days. * 7. Payment to suppliers of Machinery €22,000. (Transaction 4) * 8. One customer pays the amount due (€ 5,000) by bank transfer * 9. The company receives the repair invoice of our machinery (€200). This amount is paid from our bank account * 10. Purchase of merchandise (1.500€) on credit (60 days): * 11. Payment to the suppliers of the previous transaction by check * Requirement 1 Make journal entry Requirement 2. Regarding the trial balance of the exercise. The sum of the first two columns (SUMS Columns) value equals: A Amount =188,300€ (Debit and Credit Column) B Amount =135,300€ (Debit and Credit Column) C Amount =188,300€ (Debit Column) and 135,300€ (Credit Column) D Amount =135,300€ (Debit Column) and 188,300€ (Credit Column) E Amount = 175.000 (Debit and Credit Column) F Amount = 175.300 (Debit and Credit Column) Requirement 3. Regarding the trial balance of the exercise. The sum of the last two columns (BALANCE Columns) value equals: A Amount =188,300€ (Debit and Credit Column) B Amount =135,300€ (Debit and Credit Column) C Amount =188,300€ (Debit Column) and 135,300€ (Credit Column) D Amount =135,300€ (Debit Column) and 188,300€ (Credit Column) E Amount = 125.000 (Debit and Credit Column) F Amount = 125.300 (Debit and Credit Column)
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