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can someone please help me with this Question 2 (10 marks) From the following details provided by Mark Ltd, prepare (0) a detailed multi-step Income

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Question 2 (10 marks) From the following details provided by Mark Ltd, prepare (0) a detailed multi-step Income Statement for the year ended 30 June 2018 () a classified Balance sheet as at 30 June 2018 (4 marks) (6 marks) 262,000 Sales revenue Accounts receivable 238,000 A Cost of Sales Lnventory Salary expense Prepaid rent -Rent expense 512,000 68, 000 Goodwil 90,000 Annual depreciation on Building Building Advertisins expense Accumulated depredlation on Building NCl 24,000 600,000 16,000 334,000 10,000 318,000 Tax expense +Long Term Loan + |Unearned sales revenue Mark's capital 20,000 1 2,000 190,000 Retained Earnings 364,000 Question 4 (2 marks) Craig runs a business selling home-made chocolates. During January 2019, he earned income 50,000. While he retained this earnings in his business, he spent $ 18,500 of his personal money to purchase a car for his girifriend. Should he record the purchase of the car in the books of accounts of his business? Explain the accounting concept or principle that is relevant in this situation Eens tales 60.0001 21600 Question S (2 marks) Which method of inventory vluation is not acceptable to tax authorities in Australia. Explain why? Question 6(2 marks) What is meant by accruat Which financial statements does not use accrual Question 3 (10 marks) Super Ltd reported the following in its financial statements: (all in $ '000s) 2018 Income Statement 50,236 Sales revenue 36 176 546 Cost of sales Depreciation 8, 822 Salary expense Income tax expense Earnings or Profit after tax 1,072 3,620 2018 2017 Balance Sheet 30 26 Cash at bank 598 Accounts receivables 1,238 6,978 5,678 Inventories Property and equipment Accounts payables 8,692 872 2,728 3,088 Accrued salary Long term bank loan 1,706 1,882 958 936 Equity share capital Retained earnings Required: Determine the following for Super Ltd during 2018 (a) Cash collected from customers or Accounts Receivables (b) Cash paid to suppliers or Accounts Payable (c) Cash payment for salaries 886 1,342 10,028 7,558 (1.5 marks) (3 marks) (1.5 marks) (1 mark) (1 mark) (1 mark) (1 mark) (d) Cash paid to acquire Property and equipment (no sales of this during 2018) sh paid to / cash borrowed from e) Cash paid to /cash borrowed from Long term bank loan f) Cash received from issue of new Equity share capital g) Prepare the 'operating section' of the Cash flow statement

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