Question: This part is for an assignment using XERO, how do in put this data? Expenses spilt between selling and administration expenses Expense Selling expenses Administration
This part is for an assignment using XERO, how do in put this data?
| Expenses spilt between selling and administration expenses | |||||||
| Expense | Selling expenses | Administration expenses | |||||
| Depreciation of furniture, equipment and computers | 15% | 85% | |||||
| Amortisation of computer programs | 85% | 15% | |||||
| Depreciation Right of Use asset (warehouse) | 90% | 10% | |||||
| Electricity | 90% | 10% | |||||
| Maintenance of buildings and equipment | 95% | 5% | |||||
| Telephone and Internet expenses | 50% | 50% | |||||
| Insurances | 50% | 50% | |||||
| Salaries and wages, and other employee benefits | 45% | 55% | |||||
| Additional information: | |||||||
| Note 1 | The classified method requires you to classify the assets and liabilities as current and non-current in the Statement of Financial Position | ||||||
| Note 2 | The amount of lease liability repayments for the coming year are $169,744 for the warehouse and $541,465 for the warehouse equipment | ||||||
| Note 3 | The current interest-bearing liabilities to be paid in 2023, will be the same as for 2022 | ||||||
| Note 4 | The specific paragraph references to AASB101 are to be shown in a separate column on the face of the statements | ||||||
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
