2I Calculate the total revenue and expenses for the month of June 2022, given the following: (i)...
Question:
2I Calculate the total revenue and expenses for the month of June 2022, given the following:
(i) Credit sales of $200 000 made in June; 50 per cent to be collected in June.
(ii) Cash sales of $300 000.
(iii) Received $20 000 as a deposit from a customer in June for a job to be carried out in July.
(iv) Paid salaries of $40 000; $10 000 related to work carried out in May and $30 000 related to June work.
(v) Paid rent for the month of June of $6000 on 7 June.
(vi) Received a bill for $1500 from an electrician for work done on 20 June. This will be paid next month.
(vii) Paid $10 000 in dividends to shareholders.
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