The following information has been extracted from the accounts of PQR Ltd.

Additional information: 

a. Balances as at 30 June 2019:

b. Credit purchases of inventory totalled $176 000 for the year. 

c. The services relating to the revenue received in advance at 30 June 2018 were provided during the year. 

d. No additions or disposals of plant and equipment were made during the period. The depreciation rate is 20 per cent per annum. The straight-line method is used. 

e. Administrative expenses included a prepayment of $4000 for July 2019. 

f. Accrued interest on 30 June 2018 related to the loan which was repaid during the year. There is no accrued interest as at 30 June 2019.

Required:

1. Calculate total revenue for the year ended 30 June 2019. 

2. List all expenses for the year (including dollar amounts). 

3. Calculate the balance of cash as at 30 June 2019. 4 Provide a balance sheet as at 30 June 2019.

Transcribed Image Text:

Assets Cash Accounts receivable Inventory Plant and equipment Accumulated depreciation PQR LTD BALANCE SHEET AS AT 30 JUNE 2018 $ $ 150 000 40 000 25 000 14 000 32 000 110 000 181 000 Liabilities and shareholders' equity Accounts payable Revenue received in advance Accrued interest Loan Share capital Retained profits $ 19 000 8 000 1 000 25 000 80 000 48 000 181 000