1. During the year ended 30 June 2016, French Horn Ltd made cash sales of $100 000, credit sales of $200 000 ($50 000 of which were still to be collected at year-end), and received $25 000 owing from credit sales, which occurred in May 2015. What is French Horn's sales revenue for the year ended 30 June 2016?
2. Also during the year ended 30 June 2016, French Horn paid $60 000 and owed $10 000 in employee wages. Of the $60 000 paid, $5000 related to wages payable as at 30 June 2015. What is the total of French Horn's accrual accounting expenses?
3. What is French Horn's accrual accounting profit for the year ended 30 June 2016?