Question (a)

cash

Accounts receivable

Inventory

Equipment

Accounts Payable

Unearned Revenue

Bank Loan

Capital

Revenue

Expense

Note

Open Balance

(i)

(ii)

(iii)

(iv)

(v)

(vi)

(vii)

(viii)

(ix)

(x)

End Balance

Question (b)

Belle's Toy Store
Income Statement
for the month of July 2022

Belle's Toy Store
Balance Sheet
as at 31 July 2022
Assets
Current assets:
Total current assets
Non-Current Assets:
Total assets
Liabilities
Current liabilities:
Total current liabilities
Non-current liabilities:
Total liabilities
Equity
Total liabilities and Equity

Belle's Toy Store
Statement of Cash Flows
for the month of July 2022
Operating Cash Flows
Total Operating Cash Flows
Investing Cash Flows
Total Investing Cash Flows
Financing Cash Flows
Total Financing Cash Flows
Net change in cash flows
+ Opening Cash Balance
= Closing Cash Balance

Question 1 Belle operates a small toy store, which also supplies toys to the local kindergartens. The balance sheet at the end of June 2022 is shown below. Transactions for the month of July 2022 are also given (ignore taxes). Relle's Tov Store - Balance Sheet as at 30 Iune 2022 (i) 1 July, repaid $18,000 on the bank loan. The remaining bank loan has a December 31,2024 due date. (ii) 3 July, paid $2,200 of accounts payable, which related to inventory purchased in June 2022. (iii) 4 July, collected $1,800 cash from accounts receivable. (iv) 9 July, a Kindergarten paid a deposit of $400 for a delivery of toys to take place in August 2022. (v) 11 July, purchased equipment for $3,100 and paid cash. (vi) 14 July, paid rent of $2,000 for the month of July. (vii) 20 July, paid employee monthly salary of $2,500. (viii) 25 July, the owner withdrew cash from the business, $700. (ix) 31 July, sales for the month of $30,000 cash ($16,000 cost). (x) 31 July, estimated July depreciation expense $200 for equipment