Transaction

1The company collects $525925 from its trade receivables during the financial year.

2The 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 $15000. These wages relate 30 percent to administrative expenses, and the remainder to selling expenses.

3The company makes total sales of normal goods and services of $630000. Of this amount $71200 was received in cash at the time of the sale.The value of goods sold in these transactions was $410800.

4The company purchased $414800 of inventory from its suppliers. The inventory was purchased on credit.

5The company pays rent of $6500 per month on a 12-month lease. The rent related to administrative offices.

6The company purchased an additional $17000 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.

7The company repays $51311 of its borrowings. This amount includes $6693 of interest. The remaining borrowings are to be repaid evenly over the following five years.

8The accountant determines that depreciation should be recorded at $13817. The accountant estimates that 20 percent of the depreciation is related to selling activities, with the remaining related to administration.

9 The company declares and pays a dividend of $12757 to its shareholders.

10 The company issued 3450 shares to new investors. These shares were issued at an average price of $20 per share.

11 The company uses up the remainder of its previous prepaid insurance contract in the first six months of the fiscal year. The company then commences a new contract costing $14400 in total, all paid upfront, for the following 12 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.

12 The company makes payments to inventory suppliers of $389007.

13 The company paid all corporate income tax owing from the previous period. In addition, the company incurs a further $28870 in corporate income tax that it will pay next financial year.

14 The company receives a rental payment for a car park it leases on a short-term basis to another entity of $4944.

Need help with financial statement from work sheet please