Alex operates a small bookshop, EMO Bookstore. He employs Michael to help out in the bookshop. Michael
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Alex operates a small bookshop, EMO Bookstore. He employs Michael to help out in the bookshop. Michael lists out the account balance for the shop at the end of June 2016 reporting period.
From the data provided, prepare a balance sheet for EMO Bookstore for the year ending 30 June 2016.
Transcribed Image Text:
Account $ Profit from Income Statement (30 June 2016) 13,300 Inventory 8,000 Debtors 12,200 Motor Vehicle (Purchased on 29 June 2016) 25,000 Creditors 3,000 Cash at Bank 5,000 Office Furniture (Purchased on 28 June 2016) 4,000 Loan from DET Bank (due 2020) 30,000 Drawings 3,000 Capital 10,900
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Related Book For
Understanding Financial Statements
ISBN: 9781292101552
11th Global Edition
Authors: Lyn Fraser, Aileen M. Ormiston
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