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please prepare a statement of profit and loss and statement of financial position based on this transaction worksheet analysis Transaction Summary 1 The company collects
please prepare a statement of profit and loss and statement of financial position based on this transaction worksheet analysis
Transaction Summary
The company collects $ from its trade receivables during the financial year.
The company repays $ of its borrowings. This amount includes $ of interest. The remaining borrowings are to be repaid evenly over the following ten years.
The company purchased an additional $ of computer equipment. Half was paid in cash, with the remaining on credit. The accountant determines that the credit amount should be allocated to other current liabilities.
The company declares and pays a dividend of $ to its shareholders.
The company paid all wages owing from the previous period, which made up the total opening balance of Other current liabilities. In addition, the company paid wages costs of $ These wages relate percent to administrative expenses, and the remainder to selling expenses.
The company uses up the remainder of its previous prepaid insurance contract in the first six months of the financial year. The company then commences a new contract costing $ in total, all paid upfront, for the following months including the last six months of the financial year. The insurance related to administration. The accountant informs you that Other current assets related to prepaid accounts in the previous financial year.
The company purchased $ of inventory from its suppliers. The inventory was purchased on credit.
TRANSACTION ANALYSIS WORKSHEETThe accountant determines that depreciation should be recorded at $ The accountant estimates that percent of the depreciation is related to selling activities, with the remaining related to administration.
The company pays rent of $ per month on a month lease. The rent related to administrative offices.
The company paid all corporate income tax owing from the previous period. In addition, the company incurs a further $ in corporate income tax that it will pay next financial year.
The company receives a rental payment for a car park it leases on a shortterm basis to another entity of $
The company issued shares to new investors. These shares were issued at an average price of $ per share.
The company makes payments to inventory suppliers of $
The company makes total sales of normal goods and services of $ Of this amount $ was received in cash at the time of the sale.The value of goods sold in these transactions was
$
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