TRANSACTION ANALYSIS WORKSHEET Details Cash Trade receivables Inventories Other current assets Property, plant & equipment Investments Trade payables Current tax payable Other current liabilities Borrowings Contributed equity Retained earnings Opening balances 83,639 54,805 30,188 2,668 93,391 145,039 18,295 3,835 2,167 160,080 99,174 Opening balance - Retained earnings Income Expenses Dividends Event 1 Event 2 Event 3 Event 4 Event 5 Event 6 Event 7 Event 8 Event 9 Event 10 Event 11 Event 12 Event 13 Event 14 Closing balances Closing balance - Retained earnings Event Event 1 Transaction The company repays $36818 of its borrowings. This amount includes $4802 of interest. The remaining borrowings are to be repaid over the following ten years. Event 2 The accountant determines that depreciation should be recorded at $9339. The accountant estimates that 20 percent of the depreciation is related to selling activities, with the remaining related to administration. Event 3 The company declares and pays a dividend of $12618 to its shareholders. Event 4 The company uses up the remainder of its previous prepaid insurance contract for the first six months of the fiscal year. The company then commences a new contract costing $7200 upfront for the following 12 months at equal cost per month, including the last six months of the year. The insurance related to administration. The accountant informs you that Other current assets related to prepaid accounts. Event 5 The company purchased $356800 of inventory from its suppliers. The inventory was purchased on credit. Event 6 The company receives a dividend from one of its investments of $3452. Event 7 The company makes payments to inventory suppliers of $333683. Event 8 The company purchased an additional $24000 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. Event 9 The company collects $494725 from its trade receivables during the year. Event 10 The company pays rent of $6500 per month on a 12-month lease. The rent related to administrative offices. Event 11 The company makes total sales of normal goods and services of $550000. Of this amount $61200 was received in cash at the time of the sale.The value of goods sold in these transactions was $354800. Event 12 The company issued 9920 shares to new investors. These shares were issued at an average price of $5 per share. Event 13 The company paid all corporate income tax owing from the previous period. In addition, the company incurs a further $26793 in corporate income tax that it will pay next year. Event 14 The 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 $10000. These wages relate 40 percent to administrative expenses, and the remainder to selling expenses
