The balances in the accounts of Maybe Ltd at 30 June 2019 and 30June 2020 are:
| 2020 ‘000 | 2019 ‘000 |
Sales (all on credit) | 300 | 420 |
Cost of Goods Sold | 156 | 132 |
Doubtful Debts expense | 30 | 36 |
Interest Expense | 24 | 36 |
Salaries | 36 | 30 |
Depreciation | 12 | 18 |
Cash | 172.80 | 166.80 |
Inventory | 216 | 192 |
Accounts Receivable | 324 | 300 |
Allowance for Doubtful Debts | 36 | 42 |
Land | 180 | 180 |
Plant | 120 | 108 |
Accumulated Depreciation | 24 | 36 |
Bank Overdraft | 24 | 22.80 |
Accounts Payable | 240 | 228 |
Accrued Salaries | 26.40 | 21.60 |
Long term loan | 108 | 84 |
Share Capital | 144 | 120 |
Opening Retained Earnings | 368.40 | 224.40 |
Other information:
Share capital is increased by the bonus issue of 24 000 sharesfor $1.00 each out of retained earnings. Plant is acquired duringthe period at a cost of $36 000, while plant with a carrying amountof $nil (cost of $24 000, accumulated depreciation of $24 000) isscrapped.
Required:
a) Reconstructthe allowance for doubtful debts and accounts receivable.
b) Reconstructinventory and accounts payable
c) Reconstructaccrued salaries
d) Reconstructproperty, plant and equipment and accumulated depreciation
e) Present a statement of cash flow for MaybeLtd for the year ended 30 june 2020
