EXERCISE 2 – Company Athena
1. Creation of the company Athena, with the following contributions on 7/07/N:
-partner A: 10000 euros, contribution in cash
– partner The: equipment estimated at 20000 euros (contribution in kind)
– partner Na: 10000 euros, contribution in cash
2. partner The makes a cash advance of 15000 euros to the company, to record in “partner current
account” on 8/07/N
3. Acquisition of an equipment for 5000 euros without VAT on 9/09/N, paid in cash
4. Acquisition of a car for 20000 euros (VAT not recoverable), paid 50% in cash on 10/10/N and 50%
on 30/11/N
5. Receipt of a bank loan of EUR 10000 (no VAT) on 15/11/N
6. Payment of the balance of the invoice of the car on 31/11/N
Record transactions in the accounts of Athena
Capital
Cash
40000 (1)
(1) 20000
