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ACF1100 S1 2020 DEF Saved to my Mac ings Review View Table Design Layout Tell me 21 AaBbCcDc Aabbccde AaBb Aa Bb Cebde Abde Normal No Spacing Heading 1 Heading 2 Title Subtitle Question 1 (11 marks) Ivan Maric opened a crane hire business in June 2016. The following transactions occurred during the first month of the business (ignore GST). June 2 5 I. Maric invested $60,000 cash and a $20,000 crane into the business. Purchased an additional crane costing $27,000 with $3,000 cash and a $24,000 loan. Purchased supplies costing $400 cash. 18 Hired out a crane at a fee of $3,000 and invoiced the customer, Dane Swan, on the 184 (The crane was used and returned on the 18th). Credit terms were 2/10, 1/30. 21 Received payment in full from Dane Swan. 30 The two employees of the business had worked for the entire month at a salary of $4,000 per month each. This has not yet been recorded or paid. Required: (a) Journalise the above transactions. Narrations are not required. [8 marks] (b) In 2021, Ivan Maric receives a salary of $100,000. Prepare the journal entry that would record the weekly accrual of sick leave assuming in the last five years, Ivan has taken 40% of his sick leave accrued and is entitled to 10 days sick leave a year. Show your calculations, [3 marks)

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