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 Event 5. Depreciation of property, plant and equipment for the year was $485 Event 6. Occupancy expenses of $624 were paid in full. Event 7. Inventory purchases, all on credit, were $3,432. Event 8. Sales for the year were $9,310 of which $7,448 were on credit. Event 9. Loan repayments consisting of principal of $409 and interest of $327 were made during the year. Event 10. The cost of the inventory sold was $3,538 Event 11. Paid $3,253 to trade payables during the period. Event 12. Trade receivables paid $7,793 during the year. Event 13. Term deposits included as part of Investments earned interest of $372 which was received in full during the year. Eve 14. The benefits of the prepaid administrative expenses from the previous period were used up during the current period. Event 15. The entity then paid additional administrative expenses of $547 during the current period. $233 of this amount relates to 3 months remaining on an insurance policy at the end of the reporting period. Event 16. Tax instalments of $793 were paid during the year. The tax expense determined at the end of the year was $1,117. The balance will be paid in the subsequent period. Event 17. Dividends of $1,397 were paid to shareholders during the period. 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 30
