Effect on revenue, expenses, assets and liabilities The following transactions occurred during 2021–2022 for SATT Ltd, whose year-end is 30 June 2022.

1 Paid wages of $90 000; wages of $10 000 had been earned by employees but not paid at year-end.

2 On 1 June 2022 received a deposit of $70 000 for work to be carried out in the next year.

3 Used $15 000 of electricity during the year for which the company has not yet been invoiced.

4 Purchased supplies costing $4000 on credit; at year-end $800 of these supplies remained.

5 Paid a $24 000 insurance policy on 1 October 2021, covering 1 October 2021 to 30 September 2022.

For each of the discussed transactions, events or facts, indicate the impact on revenues, expenses, assets and liabilities for the year ended 30 June 2022 by placing a + or − sign (+ for increase and − for decrease) to indicate direction in the appropriate box. Write NE if there is no effect. Include dollar amounts. Be sure to place an answer in every box.

Revenues Expenses Assets Liabilities 1

2 3

4 5