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BUST 1043: INTRODUCTION TO FINANCIAL ACCOUNTING -Learning Activity 1 - 4% - 100 marks Write...

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BUST 1043: INTRODUCTION TO FINANCIAL ACCOUNTING -Learning Activity 1 - 4% - 100 marks Write the answers only on this sheet or on a blank paper by hand, make a PDF and upload in Unit 2 -Learning Activity 2.1. You lurve 25 minutes to write and 5 minutes to upload QI. Prepare a multistep Income statement for Left Corporation for 2020 using the below data. 50 marks Cost of goods sold 13.300 Sales revenue 71.200 Income tax expense 880 Interest expense 1,530 telephone expense 510 Share capital 19,200 Inventory 3.100 Rent expense 2.600 Research expense 410 Salary expense 3.800 Q2. Write the journal entries for the below transactions of Left Corporation during June 2021. 50 marks 1 New shares were issued for $6,600. 2 Sold to customers on account for S1080 3 Customers in transaction 2 paid their due in full. 4 Paid water bill for $425. 5 Purchased inventory on account for $1,330 Accounts Debit CL 1 2 3 4 5

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