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In which columns in a transaction analysis worksheet, would each event be placed? Other current Details Cash Trade receivables Inventory Property, plant & equipment Investments
In which columns in a transaction analysis worksheet, would each event be placed?
Other current Details Cash Trade receivables Inventory Property, plant & equipment Investments Trade payables Other current liabilities Borrowings Contributed equity Retained earnings assets Opening balance - Retained earnings Opening balances 1,116 792 1,421 152 5,053 1,614 507 112 4,090 2,030 Income Expenses Dividends Data from the 2019 financial statements has been extracted and entered for all of the opening balances with the exception of Retained earnings. You are required to calculate and enter the opening balance for Retained earnings. Additional information Other current assets relate to prepaid administrative expenses. Other current liabilities are accrued expenses relating to selling & marketing expenses. The item Investments comprises a combination of long-term cash deposits and/or shares held in other entities. The following is a summary of transactions and events for the financial year ending on 30 June 2020 Event 1. Cash proceeds from a share issue were $284. Event 2. Additional equipment costing $1,516 was acquired by paying $455 and financing the balance by increasing the existing loan. Event 3. Payments for selling & marketing expenses were $745 which included the accrued expenses owing from the previous period. Event 4. An additional $177 of selling and marketing expenses relating to sales commissions incurred during the this period is owing on June 30Step by Step Solution
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