Question 19 Payment of employee wages will be recorded in: Not yet answered Marked out of 1.00 General journal. Petty Cash Book Cash book Purchases journal. Flag question Question 20 Not yet answered Using your accounting knowledge, fill in the blanks in the following income statement: $ Marked out of 2.00 Sales 43,500 Flag question Cost of goods sold Opening Inventory 1,950 Total cost of purchases ??? a Closing Inventory (3,000) Cost of goods sold 16,000 $20,950 $17,950 $17,050 $19,000 Gross profit 272 e Expenses 10,650 Net income 16,850 Question 20 Not yet answered Using your accounting knowledge, fill in the blanks in the following income statement: $ Marked out of 2.00 Flag question Sales 43,500 Cost of goods sold Opening Inventory 1,950 Total cost of purchases ??? a (3,000) Closing Inventory Cost of goods sold Gross profit 16,000 222 b Expenses Net income 10,650 $27,500 16,850 $26,650 $19,000 $6,200 The business pays Rahil account of $200 by cheque less 5% cash discount. This transaction will be entered in cash book as Question 21 Not yet answered Marked out of 1.00 Pag question Credit Side Bank Column $200 Credit Side Discount Column 510 Credit Side Bank Column $190, Debit Side Discount Column $10 Debit Side Bank Column $190, Credit Side Discount Column $10 Credit Side Bank Column $190, Credit Side Discount Column $10 Question 22 Ahmed is trying to value her inventory. He has the following information available: Not yet answered Particulars $ Marked out of 1.00 Selling Price 750 F Flag question Costs incurred to date 40 Modification costs to enable sale 34 Selling cost per item 8 What is the net realizable value of Ahmed's inventory? $40 $33 $75 $82 Question 23