4 You notice the electricity account has been used instead of the Rent account

4 you notice the electricity account has been used

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4You notice the electricity account has been used instead of the Rent account for the sum of $750.00. Make the relevant correction. General journal Date Details Debit Credit 1/5/xx RENT - electricity account 750.00
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1/5/XX RENT - electricity account - wrong account 750.00 1/5/xx RENT - Rent Account 750.00 Trainer Comments 14/03/2019 10:41AM Rent account will be debited and electricity account will be credited Activity 11 A business has sales of $825,000 over the fiscal year to June 30th last financial year. Cost of goods Sold was $260,000 and administrative and sales expense was $180,000. Accumulated Depreciation was calculated at $65,000. Interest earnings were $15,000 and interest paid on loans was $35,000. The business is based in Australia.Assume a tax rate of 30% when making your calculations.What is the Net Income (after tax) for the Year Ending June 30th? Activity 11.docx (12.5 KB)Activity 12Prepare a balance sheet for a business that has provided the following figures. Short term loans payable $25,000, prepaid expenses $17,000, inventory $85,000, long term loans payable 42,000, equipment $60,000, paid in capital $35,000, PAYG tax withheld $15,000, accounts receivable $185,000, goodwill $15,000, cash $60,000, retained earnings $50,000, accounts payable $15,000, accumulated depreciation $12,000, expenses payable $20,000 and capital stock $15,000.
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Goodwill 15,000 Accounts payable 15,000 Expenses payable 20,000 PAYG Tax withheld 15,000 Loans payable - short term 25,000 Loans Payable - long term 42,000 Capital stock 15,000 Paid in capital 35,000 Retained earnings 50,000 422,000 229,000 Net profit 193,000 422,000 422,000 Trainer Comments 14/03/2019 10:46AM Satisfactory Previous Activity 13 1List at least four of the discrepancies you might find when completing a bank reconciliation. Trainer Comments
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2If you find a customer has overpaid an invoice what would you do? (30–50 words) Trainer Comments 14/03/2019 10:48AM Satisfactory
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