Please answer Part B only.

D E F. 1 QUESTION 2 (19 marks] This question has parts a to g. Please answer all parts. Ignore income tax. 2 3 Part A 12.5 marks 4 Part B 5.5 marks 5 Part C 1 marks 6 Total 19 marks 7 8 QUESTION 2 [19 marks] 9 XYZ Cleaning completed the following transactions during the month of October 20X0 10 11 Oct-01 Prepaid insurance for October to December 110.7 12 Oct-04 Performed cleaning services on credit 430.5 13 Oct-05 Purchased cleaning equipment on credit 344.4 14 Oct-08 Paid repair expenses 12.3 15 Oct-11 Purchased office equipment for cash 246 16 Oct-19 Collected on account 43.05 17 Oct-24 Performed cleaning services & collected cash 92.25 18 Oct-26 Paid account payables from 5 Oct 19 Oct-29 Paid salary expense 123 20 Oct-30 Recorded adjusting entry for October insurance expense 21 Oct-31 Debited unearned revenue and credited revenue in an adjusting entry 141.45 22 GST rate 10% 23 GST is charged on eligible transactions 24 25 PART A: Prepare journal entries for the above transactions and events (12.5 marks) 26 a) 67 PART B Show whether each transaction would be handled as a revenue or an expense for the month of October 20X0 68 using both the cash and accrual basis (5.5 marks) 69 70 Date Cash basis Accrual basis 71 72 Oct-01 73 Oct-04 74 Oct-05 75 Oct-08 76 Oct-11 77 Oct-19 78 Oct-24 79 Oct-26 80 Oct-29 81 Oct-31 82 Oct-31 83 84 Cash surplus (deficit)/ profit (loss) 85 86