Using the account balances at 31 December 2022 from the general ledger of Mary Doggett shown in figure 12.40, prepare an income statement and balance sheet that incorporates the balance day adjustments. Enter the account, statement and group abbreviations.

Transcribed Image Text:

Account Balances for Mary Doggett Mortgage on Premises Bad Debts Expense Bank Overdraft Capital Cash on Hand Accounts Payable Control Accounts Receivable Control Cost of Sales Discount Received Doubtful Debts Expense Drawings Expense Accrued (salaries) Expense Prepaid [insurance] Freight Outwards GST Receivable GST Payable Insurance Interest on Overdraft Inventory Investment in Shares Plant and Machinery Accumulated Depreciation - Plant and Machinery Postage Premises Allowance for Doubtful Debts Rent Received Salaries Sales Stationery and Photocopying 40 000 1 292 11 909 11 116 400 8.569 23 914 85 764 776 85 4.510 1350 3.000 4022 2758 5 500 8640 3761 8 404 9 900 38 300 15 900 1 639 55 350 200 11 630 60 165 208 841 3887