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SAGE HELP NEEDED

squirrelohara · 2012-03-26 14:59:50

Hi guys. I'm doing a project in accounting for fourth year and I am really stuck with SAGE. Any help would be really appreciated. I just need help on how to post the following: 1: Initial capital of 400,000, €0.50 shares issued at a premium of €0.20 on 1st Jan. (Not sure if this even goes into SAGE) 2: The company leased…

26-03-2012 2:59pm

#1

squirrelohara

Closed Accounts Posts: 393 ✭✭

Join Date: March 2012

Posts: 391

Hi guys. I'm doing a project in accounting for fourth year and I am really stuck with SAGE. Any help would be really appreciated. I just need help on how to post the following:

1: Initial capital of 400,000, €0.50 shares issued at a premium of €0.20 on 1st Jan. (Not sure if this even goes into SAGE)

2: The company leased an asset on the 6th of Jan. No VAT. Cost €114,000. Lease term is 4 years. Rate of interest is 10%. First instalment paid in advance of €32,625 on 7th Jan. Estimated useful life of asset is 5 years. Depreciation based on useful life.

3: Other purchases:
Machinery €110,000
Motor Vehicles €50,000

Depreciation is 45% reducing balance on machinery and 25% straight line on motor vehicles which will have a residual value of €5,500

Thanks.

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