CASE 10A Woolworths Ltd Refer to the extracts of the annual report of Woolworths Ltd in this book’s appendix. All questions relate to the consolidated accounts.

1 Prepare an example of the assets component of the chart of accounts that could be used by Woolworths.

2 What journal entry would Woolworths Ltd write for each of the following?

a A cash sale of $38 b The purchase of 1000 white folders for $3 each on credit for resale c The payment of weekly wages of $1 million d The purchase of shop fittings on credit for $800 000 e A bill to clients for management fees of $1 million f The receipt of $1 million in management fees from clients