Question 11 With a periodic inventory system if inventory at start is $25 000, purchases $123 000 and inventory at end as per physical stock take is $20 000, what is the estimated cost of sales? Not yet answered Select one: Marked out of 1.00 0 a. $128 000 b. $123 000 P Flag question c. $148 000 d. $168 000 Question 15 Not yet answered Marked out of 1.00 Riding Hood Limited, an travel services company, signed an agreement to complete services for Falling Down Limited. The two year agreement was signed on July 1, 2026 and became effective from January 1, 2027. Half of the services would be performed in 2027 and the remainder in 2028. The total value of the agreement is $500,000. Falling Down Limited will pay for the services provided at the end of the contract. The financial year of Riding Hood Limited and Falling Down Limited is from January 1 to December 31. Required: For the 2027 financial year, the agreement resulted in the books of Falling Down Limited: P Flag question Select one: O a. Expenses increasing by $250,000 and increasing equity by $250,000. b. Expenses increasing by $500,000 and increasing liabilities by $500,000. c. Expenses increasing by $250,000 and increasing liabilities by $250,000. d. Assets increasing by $250,000 and increasing liabilities by $250,000. Question 16 Under the periodic inventory system, what is the entry for the credit purchase of 20 fridges at $250 per fridge? Not yet answered Select one: Marked out of 1.00 P Flag question a. Debit inventory $5 000; credit accounts payable $5 000 b. Debit accounts payable $5 000; credit purchases $5 000 c. Debit purchases $5 000; credit accounts payable $5 000 O d. Debit accounts payable $5 000; credit inventory $5 000