gm Ock Castmes 1 Credit sales for the year $600 000 Doubtful debts expense for the year Opening balance of Accounts receivable Closing balance of Accounts receivable Opening balance of Allowance for doubtful debts 7 500 135 000 120 000 * 13 500 ***.ww Closing balance of Allowance for doubtful debts 12 000 2.Accrued Wages beginning 16000, Ending accrued wages $20000, and during the period wages expense which is shown in the Profit and loss $20 000. 3.At the beginning of the accounting period the company has a tax liability of $200 and at the reporting date a tax liability of $360. During the year the tax expense shown in the statement of profit or loss was $400. niderd 4. At the beginning of the accounting period the company has retained earnings of $32000 and at the end of the accounting period the balance of the retained earnings is $16000. The reported profit for the year was $16000 5.Margaret River Ltd provides you with the following information about its property, plant and equipment: $500,000 Opening balance of property, plant and equipment Closing balance of property, plant and equipment Depreciation expense for the year Opening balance of accumulated depreciation Closing balance of accumulated depreciation Gain on sale of property, plant and equipment Carrying value of property, plant and equipment that has been disposed of 650,000 50,000 200,000 210,000 20,000 90,000 From the following information provide by X Ltd, assuming that accounts payable only relate to the purchase of inventory, determine the cash payments made to suppliers during the year Cost of goods sold for the year 5. $3000 100 Discounts received for early payment to suppliers Stock write-offs owing to fire damage 250 2000 1750 Accounts payable (SOP) Accounts payable (EOP) Inventory (SOP) Inventory (EOP) 500 1200 gm Ock Castmes 1 Credit sales for the year $600 000 Doubtful debts expense for the year Opening balance of Accounts receivable Closing balance of Accounts receivable Opening balance of Allowance for doubtful debts 7 500 135 000 120 000 * 13 500 ***.ww Closing balance of Allowance for doubtful debts 12 000 2.Accrued Wages beginning 16000, Ending accrued wages $20000, and during the period wages expense which is shown in the Profit and loss $20 000. 3.At the beginning of the accounting period the company has a tax liability of $200 and at the reporting date a tax liability of $360. During the year the tax expense shown in the statement of profit or loss was $400. niderd 4. At the beginning of the accounting period the company has retained earnings of $32000 and at the end of the accounting period the balance of the retained earnings is $16000. The reported profit for the year was $16000 5.Margaret River Ltd provides you with the following information about its property, plant and equipment: $500,000 Opening balance of property, plant and equipment Closing balance of property, plant and equipment Depreciation expense for the year Opening balance of accumulated depreciation Closing balance of accumulated depreciation Gain on sale of property, plant and equipment Carrying value of property, plant and equipment that has been disposed of 650,000 50,000 200,000 210,000 20,000 90,000 From the following information provide by X Ltd, assuming that accounts payable only relate to the purchase of inventory, determine the cash payments made to suppliers during the year Cost of goods sold for the year 5. $3000 100 Discounts received for early payment to suppliers Stock write-offs owing to fire damage 250 2000 1750 Accounts payable (SOP) Accounts payable (EOP) Inventory (SOP) Inventory (EOP) 500 1200
