COULD YOU LIST THE EXPENSES WITH DOLLAR AMOUNTS PLS?
Uluru Limited Balance Sheet as at 31 December 2019 Assets $ Liabilities Current assets Current liabilities Cash 16,000 Accounts payable 80,000 Accounts receivable (net) 80,000 Unearned service revenue 15,000 Inventory 76,000 Wages payable 5,000 Prepaid insurance 28,000 Total current liabilities 100,000 Total current assets 200,000 Non-current liabilities Non-current assets Long term debt 300,000 Land 300,000 Total non-current liabilities 300,000 Equipment 700,000 Total liabilities 400,000 Less accumulated depreciation (150,000) Goodwill 150,000 Shareholders' equity Total non-current assets 1,000,000 Share capital 600,000 Retained profits 180,000 Asset revaluation surplus (land) 20,000 Total assets 1,200,000 Total Shareholders' equity 800,000Additional information as at 31 December 2019: . The gross Accounts Receivable balance was $85,000 less an Allowance for Doubtful Debts of $5,000 gives a net Accounts Receivable balance of $30,000; 0 During the year Uluru Limited earns revenue from both the sale of inventory and the provision of services. The following transactions occurred during 2020 for Uluru Limited: - Uluru Limited issues $500,000 worth of share capital for cash; . Purchased $110,000 of inventory on credit; . Paid $?0,000 in cash to their accounts payable; 0 Sold inventory to a customer costing $180,000 for $350,000. All sales are on credit; - Collected $330,000 in cash from customers throughout the year; . Uluru Limited prepays its insurance for the following year in advance [payment is made on the 31 December each year}. The prepayment made on 31 December 2020 was $36,000; . Depreciated equipment for the year using the straight-line method. The equipment has an economic life of 5 years with no scrap value; - Uluru Limited declared and paid dividends totalling $50,000; a The long term debt is due for repayment on 30 June 2023 and carries a 5% per annum interest rate. The firm has paid $10,000 towards interest charges in cash on this loan during 2020; . 0n 1 December paid $36,000 for rent covering 1 December 2020 to 31 March 2021 ,' 0 Received interest of $3,000 in cash from the ban 5:; - Wrote off a bad debt for $2,000 as a customer, Melbourne Limited, notified Uluru Limited that it had gone into bankruptcy during 2020; . At 31 December 2020 Uluru Limited's management decided to increase the balance of its Allowance for Doubtful Debts to $2,000; . Paid employees $200,000 in cash during the year; at year-end wages of $10,000 were owing to employees for work done in December; 0 During December 2020 Uluru Limited sold equipment that cost $30,000, with accumulated depreciation of $20,000 for $1000 Additional information as at 31 December 2020: . Unearned Service Revenue account had a balance of $10,000; - Accrued Interest Revenue account had a balance of $2,000
