The followings are the selected transactions of David & Sons for the year ended 30 June 2022 .

1. The company purchased a one - year insurance policy during the financial year 2020-2021 . The policy was going to expire on the 1 " day of April 2022. However , the prepaid insurance on the 1 " day of July 2021 was $ 9 000.00 ( 2 marks )

2. The sales staff is being paid weekly for a five - day week . On the last day of financial reporting , it was realised that $ 9 600 for the current week would be paid on the 3rd day of July 2022. The current week ends on the 2nd day of July 2022 ( 2. marks )

3. The total sales revenue consists of $ 1 985 that is deposited by Mr James for the products . However , these products have not yet been shipped to Mr James ( 2 marks )

4. The stationary of $ 7 564.00 was charged to the office supplies expenses during the financial year ended on the 30th day of June 2022. However , it is realised that the stationary of $ 613 is still useful that can be used next year ( 2 marks )

5. A bank loan is due , and the company is paying interest on this loan annually for the calendar year on the 31 " day of December . The interest on the loan for the current calendar year ending on the 31 " day of December 2022 is $ 5 000 ( 1 mark )