SERVICES ACCOUNTING I-II BRITISH COMMERCIAL INSTITUTE IBM QUILLACOLLO

TRANSPORTATION ACCOUNTING

1.1. INTRODUCTION TO THE SECTOR

Transportation, a means of transferring people or goods from one place to another, is at the
service of the public interest and includes all the means and infrastructure involved in the
movement of people or goods, as well as the services of reception, delivery and handling of
such goods.

Transportation infrastructures are the roads on which vehicles circulate: roads, railways,
stations, tunnels, bridges, canals, ports, airports and others.

Every day millions of movements of people and goods take place in the world. Economic
activities are favored if the means of transportation are good, fast, safe and cheap.

The transportation of people is classified as: passenger service and that of goods as
merchandise service.

1.2. IMPORTANCE

Transportation plays a decisive role in the economic growth and development of a country, as
throughout the world, transportation is and has been in Latin America a central element for
the progress or backwardness of different civilizations and cultures.

The increase in tourism has made it possible to enhance the transportation service and
improve its quality. This demand is increasingly demanding and sophisticated, seeking quality
and good prices when traveling.

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It should be added that the improvement in the quality of transportation has also been
influenced by the strong competition that exists in this market, which has generated the need
to differentiate its products by reducing costs and offering higher quality.

1.3. DIFFERENT MODES OF TRANSPORTATION

The means of transportation must be effective, that is, they must be able to transport people
or goods over short or long distances, at the lowest cost and in the shortest time possible.

To do this, they must have the necessary infrastructure (good routes, deep-water ports,
airports, etc.) and be permanently modernized, adapting them to the needs of world trade.

In general, five modes of transport are used:

a) Water
b) By highway
c) iron
d) aerial
e) Pipeline

1.3.1. AQUATIC TRANSPORT

The early improvement of water transportation was stimulated by the tendency of populations
to concentrate on coasts or waterways. The construction of ships and the rigging and
manipulation of sails improved over time, with these changes, together with the adoption of
the marine compass, making navigation in the open sea possible without sighting the coast.

The first transportation routes in the colonies were natural waterways, and the most efficient
modes of travel were by boat.

Wooden steamboats began sailing about 200 years ago, alongside ancient sailing ships
powered by wind and oars. The ships are always large ships.

Currently there are motor ships, made of metallic material, and sophisticated technology, high
comfort for the passenger and maximum safety for the transportation of cargo on all seas,
among these we can mention merchant ships, oil tankers, battleships, cruise ships and others.

Water transport can transport very heavy goods for a cheap price, due to the time because
they take longer to reach their destination.

1.3.2. ROAD TRANSPORT

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Land transport developed more slowly, but without a doubt road transport is the most used by
travelers around the world. In developed countries the roads are very good (they are paved
and paved) and connect all cities and towns: there are numerous highways or highways.

Currently, many Latin American countries have more or less acceptable road systems, with
Argentina, Brazil and Mexico being the countries with the greatest number of kilometers of
improved and paved roads.

The means of road transport are cars, buses, vans, trucks and others are the main means of
road transport. These vehicles circulate on roads and cross bridges and tunnels when the relief
is abrupt.

In cities, the automobile generates numerous problems: environmental pollution, traffic jams,
noise, parking problems, traffic accidents and others.

1.3.3. RAIL TRANSPORT

Rail transport is safer, allows the transport of a greater amount of goods and does not pollute
the environment as much.

In some large cities you can travel by metropolitan (metro): it is an electric railway with several
cars that runs underground (although sometimes it goes outside). It has several lines and stops
at numerous underground stations. It is usually faster than public buses and private cars that
travel on the surface.

The metropolitans of New York, London, Moscow and Paris are famous. In Caracas, Buenos
Aires and Mexico City there is also a subway. In Spain, the cities that have a metro are Madrid,
Barcelona, Bilbao and Valencia.

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1.3.4. AIR TRANSPORT

Air transport is the most rapidly developing form of modern transportation. The plane is the
fastest means of transportation, as it covers long distances in a short time.

When planes land they need special infrastructure called airports and (smaller) airfields. In
these places there are landing and take-off runways, hangars (they are airplane garages),
passenger terminals, and control towers from where air traffic is organized.

Planes follow invisible paths called air routes, which appear drawn on aeronautical charts and
on the modern instruments used by pilots in the aircraft cockpits.

Commercial airplanes, small planes, fighters, helicopters, seaplanes, balloons, gliders and
others are means of transportation that circulate through the air. Rockets and shuttles are
considered space vehicles.

1.3.5. TRANSPORTATION BY OIL PIPELINE

Although pipelines for water distribution have been used since ancient times, oil pipelines did
not appear until after 1859, with the discovery of oil near Titusville, Pennsylvania. By 1872 they
were a major player in the oil business, providing specialized transportation for liquefied
products, including gas and pulverized coal. Although they only transport this type of products,
oil pipelines participated in 20% of the total transportation of

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In Spain, this mode of transport is becoming increasingly important due to the extension of a
nationwide gas distribution network from Europe and North Africa.

Pipelines are enormous, long pipes used to transport oil from oil fields to refineries,
consumption centers and shipping ports. Gas pipelines are built for natural gas.

1.4. COST FOR EXPLOITATION OF SERVICES

The different costs that originate the operations of the transportation sector are summarized
in three elements, which are:

a) Materials and Spare Parts, among these we can mention: the cost of fuel used by
vehicles, tires, rings, pistons and others.

b) Direct Labor includes the remuneration of service personnel such as drivers and
assistants, including employer social obligations.

c) Miscellaneous Transportation Expenses are the elements necessary to provide the

transportation service, but that cannot be identified as Materials and Spare Parts or
Direct Labor.
Transportation companies determine the service, systematically and rationally accumulating
the different costs related to the provision of the service, which are identified according to the
cost elements, such as:

COMPOSITION OF THE COST FOR THE EXPLOITATION OF SERVICES

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MATERIALS AND
SPARE PARTS

COST FOR
LABOUR
SERVICE
DIRECT
EXPLOITATION
- Indirect labor
- Sector Insurance
MISCELLANEOUS - Sector Work Clothing
TRANSPORTATIO - Vehicle Depreciation.
- General Machinery Depreciation.
- Depreciation of General Tools.
- Others

1.5. TAX ASPECTS FOR TRANSPORTATION COMPANIES

Transport companies are required to pay at least the following national taxes:
o Value Added Tax (VAT).
o Transaction Tax (IT).
o Business Profits Tax (IUE).

At the same time, they are obliged to act as withholding agents for RC – VAT, IUE. and IT in
accordance with what is stipulated by law.

In relation to VAT and according to Law 317 of the General State Budget Management 2013,
gasoline or diesel oil invoices generate VAT Tax Credit of only 70% of the purchase value.

1.6. PLAN OF ACCOUNTS

Below is a model plan of accounts for a construction company which can be complemented
according to the requirements and characteristics of each particular construction company.

1 ASSET

11 CURRENT ACTIVE

111 AVAILABILITY
111.01 Box
111.01.01 National Currency Box
111.01.02 Foreign Currency Box
111.02 Petty Cash
111.03 Banks
111.03.01 National Currency Banks

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111.03.02 Foreign Currency Banks

112 COLLECTION RIGHTS

112.01 Accounts Receivable
112.02 Documents Receivable
112.03 Advances to Personnel
112.04 Personal Loans
112.05 VAT Tax Credit
112.06 Interest Receivable
112.07 Commissions Receivable
112.08 Other Accounts Receivable

113 STOCK
113.01 Stock materials
113.02 Fuel and Lubricant Warehouse
113.03 Spare Parts and Accessories Warehouse
113.04 Office supplies

12 NON-CURRENT ASSET

121 PROPERTY PLANT AND EQUIPMENT

121.01 Land
121.02 Buildings
121.03 Furniture and fixtures
121.04 Vehicles
121.05 Computing team
121.06 General Machinery
121.07 Tools in General
121.08 Accumulated Depreciation of Buildings
121.09 Accumulated Depreciation of Furniture and Appliances
121.10 Vehicle Accumulated Depreciation
121.11 Accumulated Depreciation of Computer Equipment
121.12 Accumulated Depreciation of General Machinery
121.13 Accumulated Depreciation Tools in General

122 OTHER ASSETS

122.01 Telephone Investments

122.02 Fixed Term Deposits
122.03 Inversions in actions
122.04 Bond Investments
122.05 Organization Expenses
122.06 Advance Paid Insurance
122.07 Prepaid Interest
122.08 Prepaid Rentals
122.09 Other Prepaid Expenses
122.10 Materials in Transit
122.11 Machinery and Equipment in Transit
122.12 Works under construction

2 PASSIVE

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211 CURRENT LIABILITIES

210.01 Accounts payable
210.02 Documents to pay
210.02.01 Documents to Pay National Currency
210.02.02 Documents to Pay Foreign Currency
210.03 Advances Received (Freight transport)
210.04 VAT Tax Debit
210.05 Salaries and Salaries Payable
210.06 Withholdings and Social Obligations to Pay
210.06.01 Employer Contributions Payable
210.06.02 Labor Contributions Payable
210.07 Taxes to pay
210.07.01 Transaction Tax Payable
210.07.02 Business Profits Tax Payable
210.08 Withholdings payable
210.08.01 IT Withheld Taxes
210.08.02 IUE Withheld Taxes
210.08.03 RC-VAT Withheld Tax
210.09 Provision for Bonuses
210.10 Interest Payable
210.11 Rents to Pay
210.12 Commissions to Pay
210.13 Short-term Bank Loans
210.14 Other Accounts Payable
210.14.01 Creditors for Professional Services
210.14.02 Basic services
210.14.03 Several

211 NON-CURRENT LIABILITIES

211.01 Provision for Social Benefits
211.02 Allowance for Bad Debts
211.03 Mortgages to pay

3 HERITAGE
310.01 Social capital
310.02 Capital Adjustment
310.03 Adjustment of Patrimonial Reserves
310.04 Legal Reserve
310.05 Reserve for Technical Revaluations
310.06 Accumulated results
310.07 Management Results

4 INCOME

41 ORDINARY INCOME
410.01 Income from Passenger Transportation
410.02 Income from Freight Transportation
410.03 Income from Transport of Parcels

42 EXTRAORDINARY INCOME
420.01 Gain on Sale of Fixed Assets

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420.02 Perceived Rents

420.03 Commissions Earned
420.04 Perceived Interest
420.05 Storage
420.06 Adjustment for Inflation and Asset Holding
420.07 Value Maintenance
420.08 Exchange rate
420.09 Other income

5 EXPENSES

510 OPERATING COSTS

510.01 Wages and salaries
510.02 Building Depreciation
510.03 Depreciation of Furniture and Appliances
510.04 Computer Equipment Depreciation
510.05 Insurance
510.06 Basic services
510.06.01 Electric power
510.06.02 Water and Sewer
510.06.03 Telephone service
510.07 Punishment Organization Expenses
510.08 Bad Debt Accounts Penalty
510.09 Rentals
510.10 Repair and Maintenance
510.11 Publicity and propaganda
510.12 Used Office Supplies
510.13 Bank interest
510.14 Bank fees
510.15 Transaction Tax
510.16 Professional fees
510.17 General expenses

52 EXTRAORDINARY EXPENDITURE
520.01 Adjustment for Inflation and Asset Holding
520.02 Value Maintenance
520.03 Exchange rate
520.04 Loss on Sale of Fixed Assets
520.05 Profit and loss

6 COST ACCOUNTS

600 COST FOR EXPLOITATION OF SERVICES

600.01 Materials and Spare Parts
600.02 Direct Labor
600.03 Various Transportation Expenses
600.03.01 Indirect labor
600.03.02 Production Insurance
600.03.03 Vehicle Depreciation
600.03.04 Machinery and Equipment Depreciation
600.03.05 Depreciation of General Tools
600.03.06 Production Work Clothes

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600.03.07 Production Travel Allowance

600.03.08 Electrical Energy Production
600.03.09 Production Cleaning Service
600.03.10 Production Repair and Maintenance
600.03.11 Tolls
600.03.12 Other Production Expenses

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TRANSPORTATION ACCOUNTING PRACTICE Nº 1

The “Veloz” Transport Company Ltda . started activities on 04/30/2015 UFV 2.04806 and
presents us with the following information as of 12/31/2015 UFV 2,09888

Box 65.000.- Furniture and fixtures

15.000.-
Banks 38.000.- Salaries and Salaries Payable 2.000.-
Fixed Term Deposits 22.400.- Direct Labor 30,000.-Share Capital
................... Materials and Spare Parts 80.000.-
Entry by Transp. Cargo 480,400.- Wages and salaries 14.000.-
commissions 900.-Transaction Tax10.400.-
Basic services 900.-Rentals 1.200.-
Adjustment for Info. and Ten. of Goods (H) 100.- General expenses
700.-
VAT Tax Debit 1.800.- Tools in General 6.500.-
Fuel and Lub Warehouse. 84.500.- Vehicles 455.000.-
ITEM to pay 500.-Various Transportation Expenses 41.000.-
Provision for Compensation 22.300.- Earned interests
2.400.-
Accounts payable 7.900.- General Machinery
95.000.-
VAT Tax Credit 1.200.- Bank loans. 12.000.-
Accounts Receivable 5 900.- Replacements warehouse
6.000.-
Insurance Paid in Advance 4,000.- Telephone Investments 13.800.-

DATA PENDING REGISTRATION

1. Update Heritage.
2. Depreciate property, plant and equipment.
3. 6 tires are purchased each for Bs. 1,200.- is paid in cash, according to the invoice.
4. 4 tires are used on our vehicles.
5. Purchase of diesel for a value of Bs. 3,000.- is paid by check, according to the invoice.
6. 90% of the fuels were used.
7. Regularize the prepaid insurance account that was contracted on the start date of
activities for 12 months, which corresponds to the SOAT.
8. According to details, the following income was obtained:
 Freight transport Bs. 12.000.-
 Parcel Transport Bs. 600.-
Total Bs. 12.600.-
That 50% were collected in cash and the balance by check.
9. Compensate taxes (VAT).

REQUESTED:
 Accounting records of all the previous points

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Social capital 462.000.-

2.01324 - 1 = 0.024813726 x 462,000.00 = 11,463.94

1,93885

A1
Adjustment for Inflation and Asset Holding 11.463,94
Capital Adjustment
11.463,94
For updating the Heritage

A2
Furniture and fixtures 372,21
Tools in General 161,29
General Machinery 2.357,30
Vehicles 11.290,25
Adjustment for inflation and Asset Holding 14.181,05
For the updating of property, plant and
equipment.

A3
Depreciation of Furniture and Appliances 1.152,92
Various Transportation Expenses 80.790,62
Accumulated Depreciation of Furniture and Appliances
1.152,92
Accumulated Depreciation Tools in General 1.248,99
Accumulated Depreciation of General Machinery 9.127,25
Vehicle Accumulated Depreciation 69.943,54
Due to the depreciation of property, plant
and equipment.

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A4
Replacements warehouse 6.264,00
VAT Tax Credit 936,00
Box
7.200,00
For the purchase of 6 tires.

TO 5
Materials and Spare Parts 4.176,00
Replacements warehouse
4.176,00
Due to the use of 4 tires.

A6
Fuel and Lubricant Warehouse 2.727,00
VAT Tax Credit 273,00
Banks 3.000,00
For the purchase of fuel.

A7
Materials and Spare Parts 78.504,30
Fuel and Lubricant Warehouse 78.504,30
Due to the use of 90% of the fuel.

A8
Various Transportation Expenses 4.000,00
Prepaid Insurance 4.000,00
For the regularization of the SOAT.

A9
Box 12.600,00
Transaction Tax 378,00
Income from Freight Transportation
10.440,00
Income from Parcel Transportation 522,00
VAT Tax Debit 1.638,00
Transaction Tax Payable 378,00
For the collection of transportation
income.

A10
VAT Tax Debit 3.438,00
VAT Tax Credit 2.409,00
Taxes to pay 1029,00
For tax compensation.

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TRANSPORTATION ACCOUNTING PRACTICE Nº 2

The Transport Company “Bolívar” Ltda. presents the following information as of 12/31/2015:

Box 15.000.- Land

85,000.- IT to pay 500.-Buildings
90,000.- Punishment Organization Expenses 250.-Cum Depreciation Buildings
34.020.-
Banks 55.000.- Furniture and fixtures
15,000.- Investment in Shares 12.500.- Dep. Accum. Furniture and
fixtures 2.820.-
Accounts payable 7.980.- General Machinery
95.800.-
VAT Tax Credit 1.200.- Deprec. Accum. Maq. in General
22.820.-
Depreciation of Furniture and Appliances 1.500.- Vehicles
395.800.-
Deprec. General Machinery 9.000.- Deprec. Accum. Vehicles
95.200.-
Shopping 34.863.- Tools in General.
5.000.-
Wages and salaries 14.039.- Deprec. Accum. Tools in General
2.500.-
Bank loans 12.000.- Mortgages to pay 25,000.-Accounts
Receivable 5 980.- Advance Insurance 6.000.-
Documents to pay 5.800.- Adjustment of Patrimonial Reserves 600.-
Capital Adjustment 5.000.- Indirect labor 10,030.-Salaries
and Salaries Payable 1.039.- Compensation Provision 32,300.-Banking
Commissions 935.-Dept. Buildings Adm. 1.020.-
AITB (Creditor) 560.-Tolls 2.875.-
Basic services 1.010.- Organization Expenses 742.-
Rentals 1.240.- Professional fees 1.240.-
Buildings Production Dept. 1.020.- Social capital ...................
Bank interest 1.120.- Production Travel Allowance
3.246.-
Comp Equipment Depreciation 1.820.- Publicity and propaganda
8.200.-
Initial Inventory of Materials 10.500.- Final Inventory of Materials 12.100.-
Profit and loss 12.100.- Earned interests 8.000.-
Direct Labor 25.000.- Entry by Transp. of Pasaj. 120.897.-
Transaction Tax 3.210.- Electrical Energy Production 1.620.-
Entry by Transp. of Encom. 45.000.- Entry by Transp. Load 85.105.-
Deprec. Tools in General. 2.500.- Vehicle Depreciation 70.800.-

REQUESTED:
 Income Statements.

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TRANSPORTATION ACCOUNTING PRACTICE Nº 3

The Transport Company “Servitrans” Ltda. presents the following information as of

12/31/2015:

Box 65.000.- Furniture and fixtures

15,000.- Banks 38.000.- Dep. Accum. Furniture and Ens.
1.820.-
Comb Warehouse and Lubricants 84.500.- Vehicles
420.000.-
ITEM to pay 4.500.- Dep. Accum. Vehicles 62.230.-
Accounts payable 7.980.- General Machinery
95.800.-
VAT Tax Credit 1.200.- Dep. Accum. Maq. in General
22.820.-
Advance Insurance 6.000.- Documents to pay 5.800.-
Materials and Spare Parts 86.070.- Social capital ...................
Equity Reserves Adjustment 600.-Capital Adjustment 5.000.-
Entry by Transp. Burden 580.400.- Wages and salaries
54,300.-Salaries and Salaries Payable 4.030.- Compensation Provision
32,300.-Banking Commissions 1.935.- Transaction Tax 20.014.-
Basic services 5.110.- Rentals 8.240.-
AITB (H) 160.-General expenses
2.472.-
VAT Tax Debit 1.800.- Tools in General 5.210.-
Direct Labor 66.200.- Various Transportation Expenses 86.130.-
Accounts Receivable 5 980.- Dep. Accum. Tools in General. 2.820.-

DATA PENDING REGISTRATION

1. The final inventory of fuels and lubricants reaches Bs. 22.000.-

2. The payroll pending registration
Sector RC-IVA Salary Subsidies
 Administrative staff 10.000.- 40.-
 Production staff 8.800.- A case
 Support staff 3.000.-
3. The advance insurance corresponds to the period of 12 months starting on 03/16/2015,
being the UFV 2.03551 (the insurance covers the risk of vehicle theft)
4. Depreciate property, plant and equipment, taking into account that a vehicle for Bs.
120,000 was incorporated on September 20, 2015 UFV 2,07676
5. The following invoices are pending accounting:
 Electric power Bs. 3,000.- (20% Administration)
 Cleaning Bs. 1,200.- (Production)
 Office supplies Bs. 200.- (Administration)
The expense for Electricity has an amount subject to tax credit of Bs. 2.920.-

REQUESTED:
 Accounting records of all the previous points.
 Income Statements.
31/12/2014 UFV 2,01324
31/12/2015 UFV 2,09888

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TRANSPORTATION ACCOUNTING PRACTICE Nº 4

The Transport company “Transperbol” Ltda. presents the following balances:

Direct Salaries and Salaries 42.400.-

Accumulated Vehicle Depreciation 140.800.-
Electricity according to invoice 2,000.- (60% to the
sector)
Water consumption according to invoice 2,000.- (80% to the
sector)
Travel expenses 2,000.- (70%
to the sector)
Wages and salaries 34.000.-
Administration Expenses 9.500.-
Purchase of Fuels and Lubricants 85.200.-
Professional fees 1.200.-
Initial Inventory of Fuels and Lubricant 12.000.-
Indirect Salaries and Salaries 10.500.-
Repair and Maintenance 20.400.-
Sector Work Clothing 2.100.-
Office supplies 840.-
Vehicle Depreciation 55.000.-
Paid Insurance 4,000.- (90% to the
sector)

REQUESTED:
 Prepare the Transportation Service Operational Cost Sheet.

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TRANSPORTATION ACCOUNTING PRACTICE Nº 5

The Transportes “Correcaminos” Ltda. Company provides us with the following information so
that you can make the necessary records and the payroll and salaries:

15/11/2016 Delivered in cash Bs. 500.- to Mr. Agapito Castro y Bs. 500.- to Mr. Armando
Líos, as an advance payment, according to corresponding receipts.

31/11/2016 Prepare the Salary and Salary Sheet with the following information:

YEARS OF MONTHLY
OPERATORS POST TOUR BONUS
SERVICE SALARY
Danny Guzman Administrator 5 3.800.-
Vania Becerra Secretary 4 2.500.-
Agapito Castro Driver 6 3.000.- 500.-
Armando Líos Driver 4 3.000.- 500.-
The wet Assistant 1 2.000.- 200.-

06/12/2016 Salaries of the company's workers are paid with a check according to the
previous payroll.

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TRANSPORTATION ACCOUNTING PRACTICE Nº 6

The Transport Company “Ramallo” Ltda. corresponding to the month of October:

1. According to the details of the month's income, 70% was collected in cash and the
balance on credit, according to the following detail:

 National Freight Transportation Bs. 12.000.-

 International Cargo Transportation Bs. 20.000.-
Total Bs. 32.000.-

2. I bought 10 tires, 20 rims each for Bs. 1,600.- and 10 rims 16 each at Bs. 1,200.- is paid
with a check from Banco de Crédito, which is why they give us a 2% discount,
according to the invoice.

3. 6 rim 20 tires and 4 rim 16 rims are used, according to the warehouse report.

REQUESTED:
 Accounting record of previous operations

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TRANSPORTATION ACCOUNTING PRACTICE Nº 7

The Transport Company “El Dorado” Ltda. provides us with the following information:

1. On April 1, 2015 (Initial UFV 2.04016), two insurance policies were contracted,
according to the corresponding invoice (TC 6.96) amount that is paid with a check
from Banco Ganadero, according to the following details:
 Obligatory insurance of traffic accidents $us. 180.- 1 year
 Vehicle theft insurance $us. 200.- 18 months

2. As of December 31 of the same management, regularize the Advance Paid Insurance

account (UFV Final 2.09888).

REQUESTED:
 Accounting record of previous operations

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TRANSPORTATION ACCOUNTING PRACTICE Nº 8

The Transportes “Rapidito” Ltda. Company provides us with the following information for its
resumption of activities on 01/01/15: UFV 2,01347

Vehicles 590.000.-
Vehicle Accumulated Depreciation 290.000.-
Furniture and fixtures 25.000.-
Accumulated Depreciation of Furniture and Appliances 8.000.-

25/05/15 Buenos Aires is cancelled. 50.- for tire patching, paid with petty cash, according
to invoice No. 0381.

12/07/15 Repairs are made to our truck, for Bs. 70,000.- (this work includes spare parts
and mechanic work, in the total repair of the engine and box) with check from
Banco Mercantil Santa Cruz, according to invoice No. 03514.
UFV 2,06472

REQUESTED:
 Make the Necessary Entries until 12/31/2015 UFV 2,09888

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TRANSPORTATION ACCOUNTING PRACTICE Nº 9

The Transport Company “Lopez” Ltda. presents the following information as of 12/01/2015:
UFV 2,09252

Box 12.600.-
Foreign Currency Box 31.500.-
Banks 58.000.-
Accounts Receivable 5.800.-
Freight Collect 2.800.-
Spare Parts and Accessories Warehouse 16.000.-
Fuel and Lubricant Warehouse 8.000.-
Stationery Warehouse 1.200.-
Land 42.100.-
Buildings 82.400.-
Furniture and fixtures 9.500.-
Vehicles 269.000.-
General Machinery 15.800.-
Tools in General 8.300.-
Prepaid Insurance 13.400.-
Telephone Investments 9.600.-
Accounts payable 7.980.-
Transaction Tax Payable 1.500.-
Provision for Social Benefits 10.800.-
Accumulated Depreciation of Buildings 21.820.-
Accumulated Depreciation of Furniture and Appliances 1.310.-
Vehicle Accumulated Depreciation 58.620.-
Accumulated Depreciation of General Machinery 2.220.-
Accumulated Depreciation Tools in General 2.180.-
Income from Passenger Transportation 380.400.-
Income from Freight Transportation 256.200.-
Adjustment for Inflation and Asset Holding 2,400.- (Debtor)
Short Term Bank Loans 12.200.-
Long Term Bank Loans 36.800.-
Social capital ...................
Capital Adjustment 3.920.-
Adjustment of Patrimonial Reserves 2.100.-
Legal Reserve 1.270.-
Materials and Spare Parts 94.700.-
Publicity and propaganda 46.500.-
Travel expenses
2.300.-
Wages and salaries 20.800.-
Direct Labor 98.300.-
Salaries and Salaries Payable 10.400.-
Various Transportation Expenses 86.220.-
Bank fees 1.900.-
Transaction Tax 14.412.-
General expenses 11.440.-

ECONOMIC MOVEMENT OF THE MONTH

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 SERVICES ACCOUNTING I-II BRITISH COMMERCIAL INSTITUTE IBM QUILLACOLLO

02/12/15 Purchase of Diesel for a value of Bs. 3,800.- is paid with a check from the
National Bank, according to the invoice.

06/12/15 According to the warehouse department report, spare parts worth Bs were
used. 8.000.-

12/12/15 Purchase of Diesel for a value of Bs. 3,000.- is paid with a check according to
the invoice

31/12/15 90% of fuels were used

31/12/15 According to details, the following income was obtained:

 Freight transport Bs. 20.000.- International
 Freight transport Bs. 12.000.-
 Parcel Transport Bs. 10.600.-

That 80% were collected in cash and the balance was a simple credit

31/12/15 Salary sheets and salaries are prepared according to the following detail:
Sector RC-IVA Salary
 Administrative staff 8.000.- 40.-
 Production staff 6.800.- Subsidy 1 case
 Support staff 3.000.-

31/12/15 The following expenses remain pending payment:

 Repair Bs. 1,200.- (Production)
 Advertising Bs. 200.- (Marketing)
 Toll Bs. 500.- (Production)

GRADES
 Complete the forms and pay them within the established deadlines.
 As of December 31, 2015, make the necessary adjustment entries having
the following information:
a. The electricity consumption for the month of December is due Bs.
120.- which has an amount subject to tax credit of Bs. 100.-
b. The insurance paid in advance was contracted on August 1 for the
period of 12 months, which corresponds to the SOAT.
c. 65% of the Stationery Material was used.
d. Depreciate property, plant and equipment.

REQUESTED:
 Account in Accounting Receipts.
 Compensate and Pay Taxes According to Law knowing that the company's
NIT is No. 2614254012
 Greater.
 Balance check sums and balances.
 Attach All Necessary Documentation.
 Prepare Financial Statements as of 12/31/2015 UFV 2,09888

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