61587 – Exercise 1. The following information is available for

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1. The following is for company ABC as of 31December N:Land 500Additional paid in capital (share premium) 150Advance payments to suppliers (from which for inventories 200) 300Licenses 50Customers 600Prepayments 80Legal reserve 70Dividends payable 100Depreciation of plant and machinery 50Investments in associates 700Issued capital paid in (Share capital paid in) ??Sundry debtors 100Raw materials 60Plant and machinery 700Long term bank loans (of which becoming due in less than one year 150) 525 downs of raw materials 5Cash at bank 30Provisions for guarantees to customers 500VAT payable 50Long term receivables 100Buildings 300Development costs (assets recognition criteria are fulfilled) 100Other reserves 700Salaries payable 200Depreciation of buildings 50Short term bank loans 150Finished goods 180Profit for the period 250Advances received from customer 100Short term financial investments 150Suppliers payable 100Bills of exchange payable 30Other taxes payable 50Deferred income 100Required:a. Draw up the balance sheet b. Calculate issued capital (paid in capital).https://essaycove.com/-solve-the-following-exercises-exercise-1-the-following-information-is-available-for-company-abc-as-of-31december-n-land-500-additional-paid-in-capital/Exercise 2. Using the following elements prepare an income statement by function and by nature (you must obtain the same result with both methods.a. Personal expenses 650a.1. for production 400a.2. for distribution 150a.3. for 100b. Interest expenses 40c. row material expenses 150d. income tax expenses 150e. merchandise expenses 10f. consumable expenses 300f.1. for production 200f.2. for distribution 70f.3. for administration 30g. Finish goods revenues 1.400h. Other op expenses.210i. Financial expenses 46j. Other taxes expenses 20k. Finish goods -31.12.N 200l. Costs CSS 210:l.1. for production 130l.2. for distribution 50l.3. for administration 30m. INTEREST REVENUE 60n. Services expenses 10o. other financial revenue 10p. seles revenue 50q. depreciation expenses 250q.1. for production 180q.2. for distribution 20q.3.for administration 50r. revenue from dividends 120

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