(Example-2 ile ilgili konular覺n ayr覺nt覺l覺 aç覺klamas覺 Chapter 3’dedir)
 
1.  
      a.
 
Debit
Credit
Notes payable
32,000
 
   Bank loans (ST)
 
32,000
     
      b.  
 
Debit
Credit
Social security premiums payable
14,000
 
   Bank loans (ST)
 
14,000
 
      c.  
 
Debit
Credit
Accounts payable
18,000
 
   Bank loans (ST)
 
18,000
 
      d.
 
Debit
Credit
Bank loans (ST)
30,000
 
   Bank accounts
 
30,000
 
      e.  
 
Debit
Credit
Interest expense
5,000
 
   Bank accounts
 
5,000
 
2.  
      a.  
 
Debit
Credit
Bank accounts
100,000
 
   Advance payments received
 
100,000
 
      b.  
            Total VAT          = 400,000 * 0.18 = 72,000 TL.
            Payment           = 100,000 + 72,000 (total VAT) = 172,000 TL.
            Remaining amount = (400,000 + 72,000) – 172,000 (payments) – 100,000 (advance payment) = 200,000 TL.
           
 
Debit
Credit
Bank accounts
172,000
 
Notes receivable
200,000
 
Advance payments received
100,000
 
   Domestic sales
 
400,000
   VAT payable
 
72,000
 
3.  
 
      a.   VAT = 24,000 * 0.18 = 4,320 TL.
            Total payment received = 24,000 + 4,320 = 28,320 TL.
     
 
Debit
Credit
Bank accounts
28,320
 
   Unearned revenue
 
28,320
 
b.
 
      One-month revenue = 24,000 / 6 = 4,000 TL.
      One-month VAT = 4,320 / 6 = 720 TL.
 
 
Debit
Credit
Unearned revenue
4,720
 
   Domestic sales
 
4,000
   VAT payable
 
720
 
5.   a.  
 
Debit
Credit
Bank accounts
40,000
 
   Bank loans (ST)
 
40,000
 
      b.  
            Interest = 40,000 * 0.12 * 120/360 = 1,600 TL.
 
 
Debit
Credit
Interest expense
1,600
 
Bank loans (ST)
40,000
 
   Bank accounts
 
41,600
 
  
6.  
      a.
 
Debit
Credit
Bank accounts
70,000
 
   Bank loans (ST)
 
70,000
 
      b.  
            126 days of interest = 70,000 * 0.12 * 126/360 = 2,940 TL.
 
 
Debit
Credit
Interest expense
2,940
 
   Accrued expenses
 
2,940
 
      c.  
            Total interest for 182 days = 70,000 * 0.12 * 182/360 = 4,247 TL.
            Interest belonging to 2013 = 4,247 – 2,940 = 1,307 TL.
            Total payment = 70,000 (principal) + 4,247 (total interest) = 74,247
 
 
Debit
Credit
Interest expense
2,940
 
Accrued expenses
1,307
 
Bank loans (ST)
70,000
 
   Bank accounts
 
74,247
 
     
7.  
      a.
            50,000 * 1.52 = 76,000 TL.
 
 
Debit
Credit
Bank accounts
76,000
 
 Bank loans (ST)
 
76,000
 
      b.  
            Interest (in USD) = 50,000 * 0.05 * 91/360 = 632 USD
            Interest in TL = 632 * 1.56 = 986 TL.
            Principal in TL = 50,000 * 1.56 = 78,000 TL.
            Total payment in TL = 78,000 + 986 = 78,986
 
 
Debit
Credit
Interest expense
986
 
Bank loans (ST)
76,000
 
Foreign exchange loss
2,000
 
   Bank accounts
 
78,986
 
      c.  
            Interest (in USD) = 50,000 * 0.05 * 91/360 = 632 USD
            Interest in TL = 632 * 1.50 = 948 TL.
            Principal in TL = 50,000 * 1.50 = 75,000 TL.
            Total payment in TL = 75,000 + 948 = 75,948
 
 
Debit
Credit
Interest expense
948
 
Bank loans (ST)
76,000
 
   Foreign exchange gain
 
1,000
   Bank accounts
 
75,948
 
8.        
      a.   85,000 * 2.15 = 182,750 TL.
 
 
Debit
Credit
Bank accounts
182,750
 
 Bank loans (ST)
 
182,750
 
           
      b.  
            Interest for 160 days (in Euro) = 85,000 * 0.04 * 160/360 = 1,511 Euro
            Interest for 160 days (in TL) = 1,511 * 2.22 = 3,354 TL.
            Principal in TL = 85,000 * 2.22 = 188,700 TL.
           
 
Debit
Credit
Interest expense
3,354
 
   Accrued expenses
 
3,354
Foreign exchange loss
5,950
 
   Bank loans (ST)
 
5,950
 
c.  
      Interest for 160 days (in Euro) = 85,000 * 0.04 * 160/360 = 1,511 Euro
      Interest for 160 days (in TL) = 1,511 * 2.12 = 3,203 TL.
      Principal in TL = 85,000 * 2.12 = 180,200 TL.
           
 
Debit
Credit
Interest expense
3,203
 
   Accrued expenses
 
3,203
Bank loans (ST)
2,550
 
   Foreign exchange gain
 
2,550
 
     
 
9.  
      a.  
     
Debit
Credit
Bank accounts
65,000
 
 Short-term portion of long-term debt
 
23,020
 Bank loans (LT)
 
41,980
 
 
      b.
No
Beginning balance
Payment
Interest
Principal
Ending balance
1
65,000
2,630
845
1,785
63,215
2
63,215
2,630
822
1,808
61,407
3
61,407
2,630
798
1,832
59,575
 
      c.  
                 
Debit
Credit
Interest expense
845
 
Short-term portion of long-term debt
1,785
 
 Bank Accounts
 
2,630
 
      d.  
                 
Debit
Credit
Interest expense
701
 
Short-term portion of long-term debt
1,929
 
   Bank Accounts
 
2,630
Bank loans (LT)
15,171
 
  Short-term portion of long-term debt
 
15,171
 
10.
      a.
No
Beginning balance
Payment
Interest
Principal
Ending balance
1
5,000,000
711,888
350,000
361,888
4,638,112
2
4,638,112
711,888
324,668
387,220
4,250,892
3
4,250,892
711,888
297,562
414,326
3,836,566
 
 
      b.  
     
Debit
Credit
Bank accounts
5,000,000
 
 Short-term portion of long-term debt
 
749,108
 Bank loans (LT)
 
4,250,892
 
      c.  
                 
Debit
Credit
Interest expense
350,000
 
Short-term portion of long-term debt
361,888
 
 Bank Accounts
 
711,888
 
      d.  
            Interest for 71 days = 4,638,112 * 0.07 (six-month interest) * 71/182 = 126,656 TL.
           
                 
Debit
Credit
Interest expense
126,656
 
   Accrued expenses
 
126,656
Bank loans (LT)
414,326
 
  Short-term portion of long-term debt
 
414,326
 
      e.  
            Interest belonging to 2013 = 324,668 – 126,656 = 198,012 TL.
 
                 
Debit
Credit
Interest expense
198,012
 
Accrued expenses
126,656
 
Short-term portion of long-term debt
387,220
 
  Bank accounts
 
711,888
 
11.
           
                 
Debit
Credit
Bank accounts
36,000,000
 
   Capital
 
8,000,000
   Additional paid-in capital
 
28,000,000
           
 
12.
           
      First legal reserves120,000 * 0.05 = 6,000 TL.
 
      Then first dividend must be calculated. First dividend is 5 % of the capital.
 
      First dividend: 900,000 * 0.05 = 45,000 TL.
 
      Remaining income = 120,000 – 6,000 – 45,000 = 69,000 TL.
 
      Second dividend = 69,000 * 0.4 = 27,600 TL.
 
      If a company distributes second dividend then it must appropriate 10 % of the second dividend as second legal reserves.
 
      Second legal reserves = 27,600 * 0.1 = 2,760 TL.
 
      Retained earnings = 69,000 – 27,600 – 2,760 = 38,640 TL.
 
                       
Debit
Credit
Net period income
120,000
 
   Legal reserves
     - 1st legal reserves: 6,000
      - 2nd legal reserves: 2,760
 
8,760
   Retained earnings
 
38,640
   Payable to shareholders
 
72,600