Question

The accounting records of Swan Ltd recorded the following information. 30-Jun-19 30-Jun-20 Accounts receivable 50,000 30,000...

The accounting records of Swan Ltd recorded the following information.

30-Jun-19

30-Jun-20

Accounts receivable

50,000

30,000

Inventories

87,000

70,000

Prepaid expenses

40,000

30,000

Dividend receivable

21,000

23,000

Land

490,000

1,000,000

Property

4,000,000

4,000,000

Accounts payable for inventories purchased

70,000

80,000

Bills payable

40,000

44,000

Employee benefit liabilities

59,000

42,000

Provision for warranty

40,000

30,000

Debenture

100,000

400,000

Sales revenue

3,800,000

5,000,000

Dividend revenue

28,000

60,000

Depreciation expense

320,000

350,000

Cost of sales

3,900,000

3,500,000

Warranty expenses

80,000

100,000

Other operating expense

900,000

950,000

Required:

Calculate the total amount of cash paid to suppliers and employees during the year ended 30 June 2020. ( T-ledgers are accepted.)

Are all the accounts given in the table above related to cash paid to suppliers and employees? If not, which account/accounts is/are not and what activities do they belong to?

Complete your answer below. Use as many pages as you need.

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