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James Myers Ltd paid salaries and wages of $450 000 during the year ended 30 ... James Myers Ltd paid salaries and wages of $450 000 during the year ended 30 June 2022. The company owes $12000 for work carried out during the last week of June but which is not due to be paid until 3 July. Assume there were no salaries and wages outstanding at the beginning of the financial year. After the adjusting entry for the year ended 30 June 2022: O a. Salaries and wages in the statement of financial performance are $450 000 and accrued Salaries and wages in the statement of financial position are $12 000. O b. Salaries and wages in the statement of financial performance are $462 000 and accrued Salaries and wages in the statement of financial position are $12 000 Oc. Salaries and wages in the statement of financial performance are $438 000 and accrued Salaries and wages in the statement of financial position are $12 000. O d. Salaries and wages in the statement of financial performance are $462 000 and accrued Salaries and wages in the statement of financial position are $0.
Newsome Company purchased equipment for $105 000 on 1 January 2022 with an ... Newsome Company purchased equipment for $105 000 on 1 January 2022 with an estimated life of 8 years and a residual value of $5 000. The straight-line method of depreciation is used. What is the carrying amount of the equipment in the statement of financial position of Newsome Company at 30 June 2023? O a $105 000 O b$87 500 O c. $81 250 Od $100 000
Jensen Paints had the following transactions during October. Which .... Jensen Paints had the following transactions during October. Which transaction represents an expense? O a. Purchased stationery for $120 cash. O b. Received $200 cash for services provided to a client, Oc. Purchased office furniture for $1800 on account. O d. Paid $500 in settlement of a loan obtained six months earlier.
Which of the following statements is correct? Which of the following statements is correct? O a. If the GST inclusive price of inventory is $120 the GST component is $12. O b. The account, GST Payable, represents the amount of GST payable to the entity's suppliers Oc. Journal entries to record GST are regarded as internal transactions. O d. Income and expenses are recorded net of GST.