Completing Balance Sheet and Income Statement for YANIS Ltd.

Extract

[...] Detailed Response Question 2 (10 points) Complete the Income Statement of the Yanis Ltd. as of 31/12/N. To answer this question, we will therefore use the accounts of the balance sheet of Class 1 to Class 5. They are indicated below in vert : Balance of Accounts as of 31/12/N Account No. Description Balance Debit Balance Credit 101000 Capital 1 000 000.00 106000 Statutory Reserve 645 600.00 164000 Loan from credit institutions 1 092 000.00 205000 Computer software 78 500.00 207000 Commercial Fund" 380 000.00 215000 Technical Installations 1 960 000.00 218200 Other tangible assets 632 000.00 271000 Fixed Assets 145 000.00 281500 Amortization of Technical Installations" 354 000.00 281800 Amortization of other tangible assets 196 000.00 310000 Raw Materials Inventory 74 400.00 355000 Finished Goods Inventory 108 100.00 307000 Merchandise Inventory 29 700.00 401000 Suppliers 330 000.00 411000 Clients 503 900.00 491000 Provision for Allowance for Bad Debts" 12 000.00 431000 Social Security 57 200.00 437000 Other Social Bodies" 50 000.00 512100 Bank" 85 600.00 601000 Purchases of raw materials 447 800.00 603100 Variation in raw materials inventory 2 800.00 603700 Variation in merchandise inventory 2 100.00 607000 Purchases of merchandise 322 600.00 613200 Rent", " 107 300.00 615500 Maintenance of equipment 15 260.00 616100 Multi-risk insurance 44 740.00 622600 Fees 37 250.00 624100 Delivery on purchases 42 500.00 625100 Travel expenses 8 695.00 626000 Telecommunication fees 31 555.00 635110 Value-Added Tax on businesses" 36 700.00 641100 Salaries 509 500.00 645100 Contributions to the URSSAF 253 600.00 661100 Interest on loan 77 100.00 675000 Value Counter of Assets Transferred 14 800.00 681100 Provisions for depreciation and provisions 270 900.00 695000 Income Tax 130 200.00 701000 Sales of Finished Products 2 034 100.00 707000 Sales of Merchandise", " 514 700.00 713000 Change in Inventory of Finished Products 5 700.00 740000 Operating Subsidy 20 000.00 762000 Financial Asset Depreciation Products 18 300.00 775000 Products of Disposals of Elements of Assets 17 400.00 TOTALS 6 349 800.00 6 349 800.00 We note that the exercise result obtained profit) is the same as in the balance sheet, namely 260,400 euros. [...]

[...] A little tip, if you don't know where to put an account, trust its number. An account will, except for exceptions (often be rather at the top of the income statement, while 69 will arrive in last position will tend to be found in the middle. We find this symmetrical logic in the revenue accounts 7. Detailed response if explanations are needed: It will be noted that a third synthesis document, in addition to the income statement and the balance sheet. [...]

[...] Complete the balance sheet of the YANIS Ltd. Question 2. Complete the profit and loss account of the YANIS Ltd. Before answering the questions, it is essential to recall the following points. The fundamental objective of accounting is to establish a faithful image of the company's financial situation (the balance sheet) and activity (the profit and loss account). To this end, the company records in the journal all the company's operations: purchases, sales, salaries . These operations credit and debit accounts. [...]

[...] The balance has been fed by the journal entries. These balances in turn feed the company's synthesis documents, which are the balance sheet and the profit and loss account. The balance sheet of the company represents its assets at a given time (usually December what it owns (assets), but also what it owes (liabilities). These accounts are numbered from class 1 to class 5. We will therefore use the accounts from class 1 to class 5 from the balance sheet when answering question 1. [...]

[...] It is the annexes. Optional for small businesses, the annexes mention exactly the information that does not appear in the balance of accounts. We find accounting information such as extracompany information. We can cite, for example, the situation of our leased assets, the situation of our paper non-matured bills of exchange, the situation of our high-risk markets, such as the situation in Ukraine or Russia currently . [...]