| A small meat processing plant starts its business, the owner (butcher) purchased |
| machines of 300,000 in value and equipment of 50,000. He rented the facilities | |
| and purchased a delivery van of 60,000 in value. He received funds to start the | |
| business in the amount of 40,000 and a bank loan in the amount of 100,000. The |
| rest of the assets were financed from his own money, leaving only 10,000 in the |
| bank account. He hired two people a driver and a butcher, then he started his | |
| business. | | | | | | |
| | | | | | | |
| 1) he purchased raw materials of 10,000 (VAT invoice, RM), | | |
| 2) he paid for raw materials (BS), | | | | |
| 3) he sold finished and non-finished goods 70,000 (VAT invoice), | | |
| 4) he issued goods 50.000 (GO), | | | | |
| 5) he received payment into bank account (BS), | | | |
| 6) he calculated payroll 8,000, | | | | |
| 7) he transferred payroll to employee bank accounts, | | |
| 8) he took 2,000 from cash-on-hand, | | | | |
| 9) he purchased the petrol for the van 500 (cash payment), | | |
| 10) he purchased packaging 300 (cash payment), | | | |
| 11) he purchased raw materials 30,000 (BS), | | | |
| 12) he sold the goods to shops 60,000, | | | |
| 13) he issued goods 40.000 (GO). | | Draw up the opening balance sheet, record the operations, close the accounts, | | | establish the result of the activity and draw up the closing balance sweet. | | | | | |
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