(a)[2]
Calculate the total credit sales figure for the year ended 30 June 2022.
(b)[1]
Calculate the total credit purchases figure for the year ended 30 June 2022.
(c)[3]
Calculate the total cash paid for wages in the year ended 30 June 2022.
(d)[3]
Calculate the depreciation expense for the year ended 30 June 2022.
(e)[10]
Prepare an income statement for the year ended 30 June 2022.
(f)[2]
State two causes of depreciation for non-current assets.
(g(i))[2]
Explain, with reference to an accounting concept, why a business ought to make a provision for depreciation of non-current assets.
(g(ii))[2]
Explain, with reference to an accounting concept, why a business ought to make an adjustment for damaged inventory.
(h)[5]
Advise Reece whether he should maintain a full set of accounting records or not. Justify your answer.