EXAMPLES-2:

Make the accounting records for the following transactions:
1.   Owners provided 600,000 lira and formed ABA Company. Money provided by the owners is deposited into the bank account.
2.   The company bought an apartment flat costing 300,000 lira and paid from the bank account.
3.   The firm bought furniture and fixtures costing 60,000 lira + 18 % VAT and paid from the bank account.
4.   On 01 May 2010, the company rented a store in a mall whose monthly rent is 4,000 lira. The firm paid one-year rent in advance and 8,000 lira as security deposit from the bank account.
5.   The company bought a vehicle to deliver the goods costing 30,000 lira + 18 % VAT and paid from the bank account.
6.   The company signed a dealership contract with a firm and paid 80,000 lira as guarantee for one year from the bank account. If the firm continues the dealership after one year, the guarantee must be renewed. 
7.   The companybought office supplies costing 1500 lira + 8% VAT (above the capitalization limit) and paid from the cash.
8.   The company bought merchandise inventory costing 60,000 lira + 18% VAT on account (payable in 30 days).
9. The company bought packaging materials costing 3,000 lira + 18% VAT (over the capitalization limit) and paid from the cash.
10. The company made sales amounting 35,000 lira (18 % VAT included). 5,000 lira is received as cash and kept in the firm, 17,000 lira is credit card. Cost of merchandise sold is 22,000 lira.
11. Next day the company received credit card payments from the bank. The bank charged 1.5% commission. The money is deposited into the bank account.
12. The company bought merchandise inventory costing 50,000 lira + 8 % VAT and gave a three-month forward-dated check.
13. The check is cashed by the seller.
14. The company made sales amounting 20,000 lira + 18 % VAT and received a 45-day forward-dated check. The cost of goods sold is 12,000 lira.
15. The check is cashed by the firm and the money is deposited into the bank account.
16. The company insured the store and paid one-year insurance amounting 2,000 lira in advance on 01 May.
17. The company ordered merchandise costing 15,000 lira + 8 % VAT and paid 7,000 lira in advance from the bank account.
18. The company received the merchandise and paid the remaining amount from the bank account.
19. The company made an agreement to sell finished goods to another firm. Amount of sale is 50,000 lira + 18 % VAT. The firm received 30,000 lira in advance.
20. The company delivered the finished goods to the customer and received and deposited the remaining amount into the bank account. Cost of goods sold is 35,000 lira.
21. The customer returned merchandise amounting 1200 lira + 8 % VAT. The firm received the merchandise and paid the amount to the customer in cash. Cost of merchandise sold is 800 lira.