Q1:

Below are the balances for some of the accounts for Linh Do Accounting Business as shown at the end of the financial year 2023.

Calculate the Total Equity at 30 June 2023.

Accounts receivable	40,117
Contributed Capital	409,129
Sales Revenue	415,493
Equipment	80,967
Unearned Sales Revenue	19,826
Dividends	11,518
Cost of sales	55,248
Accounts payable	24,970
Salary payable	17,909
Operating expenses	17,584
Retained earnings, 30 June 2023	257,337
Retained earnings, 30 June 2022	182,147
Bank loan	38,361

Q2:

Below is a list of some items for a local business. From the list below calculate the Current Assets.

Cash	63,561
Accounts receivable	15,828
Accounts payable	61,188
Salary payable	93,066
Unearned revenue	40,001
Equipment	40,692
10 year Bank Loan	7,076
Inventory	49,829
Furniture	23,601
Notes Payable	40,001

Q3:

Linh Do Accounting Services purchased a boat at a cost of $184,040. The boat has an estimated residual value of $2,076 and an estimated life of 9 years, or 100 000 hours of operation. The boat was purchased on 1 July 2022, and was used 27 000 hours in 2022/23 and 26 000 hours in 2023/24.

If the firm uses the straight-line method, what is the carrying amount (book value) at 30 June 2023?