RECORD EACH OF THE FOLLOWING EXERCISES BY DOUBLE ENTRY

1- To start a business, one person contributes $10,000,000 in cash, another, a piece of

land for $5,000,000, and $5,000,000 in cash.

Code Account Has to To have

1105 Box $ 15.000.000
1504 Land $ 5.000.000
3115 Social Contributions $ 20.000.000

2- Deposit $15,000,000 in Bancomercio.

Code Account Has to To have

1110 Banks $ 15.000.000
1105 Box $ 15.000.000

3- Purchase merchandise on credit for $3,000,000.

Code Account Has to To have

Goods not Manufactured by the
1435 Company $ 3.000.000
2205 National $ 3.000.000

4- Purchase merchandise in cash for $2,000,000, pay by check from Bancomercio.

Code Account Has to To have

Goods not Manufactured by the
1435 Company $ 2.000.000
1110 Banks $ 2.000.000

5- Purchase merchandise for $3,800,000, pay 50% by check from Bancomercio and the
rest within 60 days.

Code Account Has to To have

Goods not Manufactured by the
1435 Company $ 3.800.000
1110 Banks $ 1.900.000
2205 National $ 1.900.000

6- Sells cash merchandise for $9,000,000.

Code Account Has to To have

1105 Box $ 9.000.000
4135 Wholesale and retail trade $ 9.000.000
7- Sells merchandise for $4,400,000, pay $400,000 by check and the balance due in 30
days.

Code Account Has to To have

1105 Box $ 400.000
1305 Customers $ 4.000.000
4135 Wholesale and retail trade $ 4.400.000

8- Purchases a scanning machine on credit, for company use, worth $420,000.

Code Account Has to To have

1524 Office team $ 420.000
2205 National $ 420.000

9- Purchases a computer on credit for company use for $3,400,000.

Code Account Has to To have

Computer and Communication
1528 Equipment $ 3.400.000
2205 National $ 3.400.000

10- The company gives a check to an employee for a loan, for $750,000.

Code Account Has to To have

1365 Accounts receivable workers $ 750.000
1110 Banks $ 750.000

11- The company obtains a loan from Bancomercio for $8,900,000, a value deposited
directly into a current account.

Code Account Has to To have

1110 Banks $ 8.900.000
2105 National Banks $ 8.900.000

12- A customer pays $2,000,000 toward the debt for selling merchandise on credit.

Code Account Has to To have

1105 Box $ 2.000.000
1305 Customers $ 2.000.000

13- Deposit the sum of $9,000,000 in Bancomercio.

Code Account Has to To have
1110 Banks $ 9.000.000
1105 Box $ 9.000.000

14- The company writes a check for $2,300,000 to Bancomercio as a loan payment.

Code Account Has to To have

2105 National Banks $ 2.300.000
1110 Banks $ 2.300.000

15- The company writes a check for $4,900,000 to pay the merchandise debt.

Code Account Has to To have

2205 National $ 4.900.000
1110 Banks $ 4.900.000

16- The company writes a check for $800,000 as payment for the debt for the purchase
of the company computer.

Code Account Has to To have

2205 National $ 800.000
1110 Banks $ 800.000

17- The company writes a check for $300,000 to pay for energy service.

Code Account Has to To have

5135 Services $ 300.000
1110 Banks $ 300.000

18- The company receives $800,000 for advance rental of the computer.

Code Account Has to To have

1105 Box $ 800.000
2705 Income received in advance $ 800.000

19- The company receives $560,000 for the lease of a warehouse.

Code Account Has to To have

1105 Box $ 560.000
2705 Income received in advance $ 560.000
20- The company obtains a loan from the Colombian industrial bank for $8,000,000,
receives the money but is deducted in advance interest for $480,000

Code Account Has to To have

 2105 National Banks $ 8.000.000
1705 Prepaid Expenses (Int) $ 480.000
1105 Box $ 7.520.000

21- At the end of the month, there is an accumulated amount of $153,200 worth of
public services to pay.

Code Account Has to To have

5135 Services $ 153.200
2335 Costs and expenses to pay $ 153.200

22- The company pays fire insurance on the merchandise for one year in advance for
the sum of $1,200,000.

Code Account Has to To have

1705 Prepaid expenses $ 1.200.000
1110 Banks $ 1.200.000

AFTER THE PREVIOUS EXERCISES BEEN DEVELOPED, COMPLETE THE TRIAL

BALANCE
CODE ACCOUNTS HAS TO TO HAVE
1105 BOX $ 11.280.000
1110 BANKS $18.750.000
1504 LANDS $ 5.000.000
1528 EQ. COMP AND COMMUNICATION $ 3.820.000
1305 CUSTOMERS $ 2.000.000
1365 ACCOUNTS RECEIVABLE WORKERS $ 750.000
1705 PREPAID EXPENSES $ 1.680.000
5135 SERVICES $ 453.200
3115 SOCIAL CONTRIBUTIONS $ 20.000.000
2705 INCOME RECEIVED IN ADVANCE $ 1.360.000
4135 WHOLESALE AND RETAIL $ 4.600.000
2335 COSTS AND EXPENSES TO PAY $ 153.200
2205 NATIONAL $ 3.020.000
2105 NATIONAL BANKS $ 14.600.000
TOTALS $ 43.733.200 $ 43.733.200