Cash and receivables
PRACTICAL LECTURE
REQUIERED
For the accounting periods 20X1 and 20X2 register all what is necessary for the dates and documents in bold.
GIVEN
10/11/20X1 Purchase invoice X1/123
Purchase invoice 123 is received upon the delivery of stationary for a total amount of 2 000, 00 EUR, excluding
21 % VAT.
On 2/12/20X0 the company received PI/22 mentioning an advance for an amount of 500,00 EUR excluding 21 %
VAT for the purchase of stationary. Due date for invoice PI/22 was 20/01/20X1. Expected delivery date of the
stationary: 10/11/20X1. PI/22 was properly recorded on 2/12/20X0 as was payment on 20/01/20X1.
N° Acc.n° D Acc.n° C Description D C
10/11/20X1
1
, 20/11/20X1 Sales invoice X1/123
Sales invoice 123 is send out to client A for the sale of goods for resale for an amount of 5 500,00 EUR. The invoice
mentions a commercial discount for an amount of 500,00 EUR (21 % VAT not included). The due date is 1/12/20X2.
N° Acc.n° D Acc.n° C Description D C
20/11/20X1
31/12/20X1 DIV (Shipping document) X1/006
Goods for resale were sold and shipped to client B for an amount of 795,00 EUR, including 6 % VAT but the
invoice was not drawn up.
N° Acc.n° D Acc.n° C Description D C
31/12/20X1
2
, 31/12/20X1 DIV (End-of-Period document) X1/007
Sales invoice X1/100 was send out on November 1st 20X1 to client D for an amount of 1 000,00 USD; due date
January 15th 20X2. (NO VAT applicable) At the moment of the invoice; the exchange rate was 1,00 EUR = 1,09 USD.
On December 31st 20X1; the exchange rate is 1,00 EUR = 1,05 USD.
N° Acc.n° D Acc.n° C Description D C
31/12/20X1
31/12/20X1 DIV (End-of-Period document) X1/008
Client Z has been ordered to pay sales invoice X1/010 multiple times but no payment has been received. The
collectability issue was recorded on 10/02/20X1. Now, a loss of 50 % is assumed. Sales invoice 10 (invoice date
10/12/20X0, due date 10/01/20X1) contained the following information; sale of goods for resale, the invoice
amount equaled 1 815,00 EUR including 21 % VAT.
N° Acc.n° D Acc.n° C Description D C
31/12/20X1
3
PRACTICAL LECTURE
REQUIERED
For the accounting periods 20X1 and 20X2 register all what is necessary for the dates and documents in bold.
GIVEN
10/11/20X1 Purchase invoice X1/123
Purchase invoice 123 is received upon the delivery of stationary for a total amount of 2 000, 00 EUR, excluding
21 % VAT.
On 2/12/20X0 the company received PI/22 mentioning an advance for an amount of 500,00 EUR excluding 21 %
VAT for the purchase of stationary. Due date for invoice PI/22 was 20/01/20X1. Expected delivery date of the
stationary: 10/11/20X1. PI/22 was properly recorded on 2/12/20X0 as was payment on 20/01/20X1.
N° Acc.n° D Acc.n° C Description D C
10/11/20X1
1
, 20/11/20X1 Sales invoice X1/123
Sales invoice 123 is send out to client A for the sale of goods for resale for an amount of 5 500,00 EUR. The invoice
mentions a commercial discount for an amount of 500,00 EUR (21 % VAT not included). The due date is 1/12/20X2.
N° Acc.n° D Acc.n° C Description D C
20/11/20X1
31/12/20X1 DIV (Shipping document) X1/006
Goods for resale were sold and shipped to client B for an amount of 795,00 EUR, including 6 % VAT but the
invoice was not drawn up.
N° Acc.n° D Acc.n° C Description D C
31/12/20X1
2
, 31/12/20X1 DIV (End-of-Period document) X1/007
Sales invoice X1/100 was send out on November 1st 20X1 to client D for an amount of 1 000,00 USD; due date
January 15th 20X2. (NO VAT applicable) At the moment of the invoice; the exchange rate was 1,00 EUR = 1,09 USD.
On December 31st 20X1; the exchange rate is 1,00 EUR = 1,05 USD.
N° Acc.n° D Acc.n° C Description D C
31/12/20X1
31/12/20X1 DIV (End-of-Period document) X1/008
Client Z has been ordered to pay sales invoice X1/010 multiple times but no payment has been received. The
collectability issue was recorded on 10/02/20X1. Now, a loss of 50 % is assumed. Sales invoice 10 (invoice date
10/12/20X0, due date 10/01/20X1) contained the following information; sale of goods for resale, the invoice
amount equaled 1 815,00 EUR including 21 % VAT.
N° Acc.n° D Acc.n° C Description D C
31/12/20X1
3
