Addendum to Course 8-11

Practical example on receivables and liabilities

1. A company is set up with a social capital of 10.000 lei, from
which land 3.000 lei, Commodities 2.000 lei, Motor vehicles
4. 000 l ei , Pet t y cash 600 l ei , Cash at Bank 400 l ei .
2. The payment of the contribution to the subscribed social capital
is recorded.
3. The decision of AGA regarding the decrease of the social capital
with 1.000 lei is recorded.
4. The necessary sum is acquitted from the bank 1.000 lei.
GENERAL JOURNAL
No
Ec
Op
No
Acc
Op
Explanation Corresponding
Accounts
SUMS
D C
1 1
The set up of a
company
456 = 1011
Capital reimburs. Subscribed and not
paid
10.000 10.000
2 2 Social capital
contribution
% = 456 Capital reimburs.
2111 Lands
371 Commodities
2133 Motor vehicles
5311 Petty cash in lei
5121 Cash at bank in lei
3.000
2.000
4.000
600
400
10.000
2 3 The transfer of the
social capital
1011 = 1012
Subscribed and not paid in cap.
Subscribed and paid in capital
10.000 10.000
3 4 Decrease of social
capital
1012 = 456
Subscribed and paid in c. Capital
reimbursement
1.000 1.000
4 5 Payment of social
capital
456 = 5121
Capital reimburs Cash at bank in lei
1.000 1.000
Practical example- commercial
1. A land is acquisitioned from a juridical person, with a value of 600 lei, and
the value of the land is acquitted by bank.
2. A land is sold with 600 lei, the payment is made by bank. The historic
value of the land is 500 lei.
3. Entity purchases a computer with a value of 2.000 lei, VAT 19%.
4. A computers producer sell a computer with a value of 2.000 lei, VAT 19%,
the production cost is 1.800 lei.
5. A motor vehicle is sold by a transport company, selling price 3.000 lei,
VAT 19%, depreciation 200 lei, the counter value is collected through bank
transfer, historical cost 2.500 lei.
6. A motor vehicle is buy for 3.000 lei, VAT 19%. The life period is estimated
at 3 years. The straight method is use for depreciation.
7. An advance payment from the customers is collected in sum of 500 lei.
8. An advance is paid to the row materials supplier, in sum of 500 lei, from
the bank account.
9. An advance payment is acquitted to a truck supplier from the bank
account, in sum of 3.000 lei.
10. The truck producer collect an advance from a client 3.000 lei
GENERAL JOURNAL
No
Ec
Op
No
Ac
c
Op
Explanation Corresponding
Accounts
SUMS
D C
1 1 Land acquisition 2111 = 404
Lands Suppliers of noncurent
600 600
1 2 Land payment 404 = 5121
Suppliers of noncurent Cash at bank in lei
600 600
2 1 Land selling 461 = 7583 600 600
2 2 Discharging the land 6583 = 2111 500 500
2 3 The land value 5121 = 461 600 600
1. A land is acquisitioned from a juridical person, with a value of 600 lei,
and the value of the land is acquitted by bank.
2. A land is sold with 600 lei, the payment is made by bank. The historic
value of the land is 500 lei.
GENERAL JOURNAL
No
Ec
Op
No
Ac
c
Op
Explanation Corresponding
Accounts
SUMS
D C
3 1
The computer
purchases
% = 404 Suppliers of non.
2132 Measurement, control and ...
4426 Input VAT
2.000
380
2.380
4 1 Selling the computer 411 = %
701
4427
2.380
2.000
380
4 2 Discharging the
computer
345 = 711 1.800 1.800
3. Entity purchases a computer with a value of 2.000 lei, VAT 19%.
4. A computers producer sell a computer with a value of 2.000 lei, VAT
19%, the production cost is 1.800 lei.
5. A motor vehicle is sold by a transport company, selling price 3.000 lei,
VAT 19%, depreciation 200 lei, the counter value is collected through
bank transfer, historical cost 2.500 lei.
6. A motor vehicle is buy for 3.000 lei, VAT 19%. The life period is
estimated at 3 years. The straight method is use for depreciation.
GENERAL JOURNAL
No
Ec
Op
No
Ac
Op
Explanation Corresponding
Accounts
SUMS
D C
5 1
Selling the motor
vehicle
461 = % .
7583.
4427
3.000
570
3.570
5 2 Discharghing the
motor
% = 213
281
6583
200
2.300
2.500
5 3 Receivables
collected
5121 = 461 3.570 3.570
6 1 Motor vehicle
acquisition
% = 404
213
4426
3.000
570
3.570
7. An advance payment from the customers is collected in sum of
500 lei.
8. An advance is paid to the row materials supplier, in sum of 500
lei, from the bank account.
9. An advance payment is acquitted to a truck supplier from the
bank account, in sum of 3.000 lei.
10. The truck producer collect an advance from a client 3.000 lei
7 1 Advance payment
collected
5121 = 419
Cash at bank in lei Advance
payments
500 500
8 1 Advance payment
acquitted
4091 = 5121
Suppliers - debtors Cash at bank in lei
500 500
9 1 Advance payment
acquitted
232 = 5121 3.000 3.000
10 1 Advance payment
collected
5121= 419 3.000 3.000
11.The invoice to a supplier is acquitted as follows: 100 lei from the
bank account, 1.300 lei from a long term bank loan, and for the
difference the supplier accepts a bill of exchange.
12.The entity purchases raw materials evaluated at acquisition cost of
1.000 lei, VAT 19%.
13.The invoice related to the raw material acquisition is acquitted as
follows: 300 lei through the regularization of the advance payment
made to the supplier, 890 lei through a bill of exchange.
GENERAL JOURNAL
No
Ec
Op
No
Acc
Op
Explanation Corresponding
Accounts
SUMS
D C
11 1 The invoice to a
supplier is acquitted
404 Suppliers of non. = %
Cash at bank in lei 5121
Long term bank loans 1621
Bills of exchange payable 405
2380
100
1300
980
12 1 Acquisition of raw
materials
% = 401 Suppliers
301 Raw materials
4426 Input VAT
1000
190
1190
13 1 The invoice is
acquitted
401 Suppliers = %
Suppliers debtors 409
Bills of exchange 403
1190
300
890