This document outlines the basic principles in accounting, including the setup of an opening balance sheet, calculation of depreciation, presentation of an income statement, and establishment of a balance sheet as of December 31, 2024.
Extract
[...] Present the income statement from June 1 to December (model in annex) SIMPLIFIED INCOME STATEMENT - FROM JUNE TO DECEMBER 31, 2024 Amount Operating Products (excluding taxes) : Sales of Merchandise Production sold [goods and services] 1 666,67 Production stored Production fixed assets Operating Subsidies Other products Total I 1 666,67 don't export Operating Charges (excluding taxes) : Purchases of Merchandise Variation of Stock [Merchandise] Purchases of Supplies Variation of Supplies Stock Other External Charges 910,00 Taxes, duties and payments of a similar nature Remuneration of personnel 1 500,00 Social Charges 750,00 Depreciation provisions 4 500,00 Provisions Other charges Total II 7 660,00 OPERATING RESULT 993,33 Financial products (III) Financial charges Exceptional products Exceptional Charges Income Taxes (VII) PROFIT or LOSS (I-II+III-IV+V-VI-VII) -5 993.33 - Sales (goods and services) : (80 place x 25? TTC) / 1,2 = 1,666.67? HT - Salary of personnel: 500? gross x 3 musicians = 1 500,00? - Social charges: 50% of 500 x 3 musicians = 750,00? - Meals for musicians: 3 musicians x 2 meals x 15? TTC = 90? TTC - Catering: 100? TTC - Accommodation: 3 musicians x 2 nights x 120? TTC = 720? [...]
[...] Establish the balance sheet as of December 31, 2024 BALANCE SHEET AS OF DECEMBER 31, 2024 ASSETS NET LIABILITIES NET Fixed Assets : Equity : Intangible Assets : Capital 300 000,00 Property, Plant and Equipment 237 500,00 Report Again Financial Assets Net Income [Profit or Loss] for the Year -5 993,33 Total I 237 500,00 Regulated Provisions Current Assets : Total I 294 006.67 Stocks and Work-in-Progress [other than Merchandise] Provisions for Risks and Charges Merchandise Debts : Advances and down payments made on orders Loans and assimilated debts Accounts receivable : Advances and down payments received on orders in progress clients and associated accounts Suppliers and associated accounts others Others Investment securities Total III 0 Availability (other than cash) 56 506,67 Cash Total II 56 506.67 Advance charges noted (III) Products noted in advance TOTAL GENERAL (I+II+III) 294 006.67 TOTAL GENERAL (I+II+III+IV) 294 006.67 - Tangible assets: 200,000? (Buildings) + Technical and stage equipment + tables and chairs + work and renovation + computer equipment - depreciation of these elements: 200,000? + 8750 + 8750 + 18333 + 1667 = 237 500? - Availability: 100,000 - 42,000 (investment) - 3610 (real charges) + 1667.67 (gross receipts) = 56 506.67? [...]
[...] Stocks and Work-in-Progress [other than Merchandise] Provisions for Risks and Charges Merchandise Debts : Advances and down payments made on orders Loans and assimilated debts Accounts receivable : Advances and down payments received on orders in progress clients and associated accounts Suppliers and associated accounts others Others Investment securities Total III 0? Availability (other than cash) 100 000? Cash Total II 100 000? Advance charges noted (III) Products noted in advance TOTAL GENERAL (I+II+III) 300 000? TOTAL GENERAL (I+II+III+IV) 300 000? Calculate the depreciation to be expected - Equipment technical and scenic: - Purchase price 10,000? amortized over 4 years - So the annual installment is: (10,000 / = 2,500? [...]
[...] amortized over 4 years - So the annual installment is: (10,000 / = 2,500? The 2 items below were acquired on July so the depreciation for the year 2024 is: (2,500 + 2,500) / 2 = 2 500? - Renovation works: - Amount 20,000? depreciated over 4 years - So the annual installment is: (20,000 / = 5,000? The renovation works were completed on August so the depreciation for the year 2024 is: (5,000 / 12) x 4 months = 1 666,67? [...]
