From the following account balances of Daisy Pty Ltd as at 30 September 2013, produce a balance

Question:

From the following account balances of Daisy Pty Ltd as at 30 September 2013, produce a in both the T-format and the narrative format:
Cash at bank ......................................... $75 000
Accounts receivable (net) ..........................$37 500
Inventory .............................................$30 000
Land ....................................................$37 500
Fixtures and fittings ..................................$ 9 000
Loan payable .............................................$ 7 500
Tax payable ...............................................$ 7 500
Share capital .............................................. $30 000
Retained earnings ...................................... $144 000 Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...