In the column marked Adjusted Totals, enter the amounts in all cells taking into account...
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Accounting
In the column marked Adjusted Totals, enter the amounts in all cells taking into account the following changes:
As at July 31st:
Owner purchases a $60,000 business vehicle by taking out a loan of $60,000
The June progress payment of $27,500 was received and another progress invoice of $27,500 issued
Salaries of $10,000 (incl super) & contractors of $17,500 paid (incl GST).
ECO Balance Sheet as at 30 June ECO Balance Sheet as at 30 June Adjusted Totals Assets Current Assets Cheque Account Trade Debtors Total Current Assets $41,518.00 $27,500.00 $69,018.00 Fixed Assets Equipment at Cost Equipment - Accumulated Depreciation Total Fixed Asssets $5,000.00 $2,000.00 $3,000.00 Total Assets $72,018.00 Liabilities Current Liabilities Trade Creditors GST Collected GST Paid Total GST Liabilities Credit Card Total Current Liabilities Total Liabilities $11,000.00 $2,500.00 $1,500.00 $1,000.00 $13,000.00 $13,000.00 Net Assets $59,018.00 Equity Retained Earnings - Current Owner's/Shareholder Capital Total Equity $39,018.00 $20,000.00 $59,018.00
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