The company Young Furniture has the following business transactions in the year 01. Always assume the standard VAT rate of 19%% The business year is the same as the calendar year. Farm the posting records for the following business transactions. 1. The company buys a company car worth € 65.000 (net) on credit. 2. The company pays its outstanding invoice of € 2.380 by bank transfer. 3 The company buys raw material with the value of € 11.900 (gross amount). Payment is made directly by bank. 4 The company returns unusable merchandise due to defects to the supplier and receives a price reduction of € 500 (net). The purchase of the merchandise on credit was already booked 5 The company buys merchandise with a value of 30.000 € (net) on credit and receives a rebate by the supplier of 15%.

The company Young Furniture has the following business transactions in the year 01. Always assume the standard VAT rate of 19%% The business year is the same as the calendar year. Farm the posting records for the following business transactions. 1. The company buys a company car worth € 65.000 (net) on credit. 2. The company pays its outstanding invoice of € 2.380 by bank transfer. 3 The company buys raw material with the value of € 11.900 (gross amount). Payment is made directly by bank. 4 The company returns unusable merchandise due to defects to the supplier and receives a price reduction of € 500 (net). The purchase of the merchandise on credit was already booked 5 The company buys merchandise with a value of 30.000 € (net) on credit and receives a rebate by the supplier of 15%.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 7EA: Homeland Plus specializes in home goods and accessories. In order for the company to expand its...

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