You are provided with the worksheet for Norman Pty Ltd for the year ended 30 June 2019. The adjustments have already been made and the worksheet begins with the adjusted trial balance.

Assume all insurance relates to the factory. Closing inventory balances at 30 June 2019 were

$108 000 for finished goods, $32 800 for work in process and $17 000 for raw materials.

Required

(a) Complete the worksheet for Norman Pty Ltd.

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NORMAN PTY LTD Worksheet for the year ended 30 June 2019 Adjusted trial balance Manufacturing Income statement Balance sheet Debit Credit Debit. Credit Debit Credit Account Cash at Bank Accounts Receivable Finished Goods Work in Process Raw Materials Prepaid Insurance Machinery and Equipment Accum. Depr.- Machinery & Equipment Accounts Payable Loan Payable Share Capital Retained Earnings Sales Debit Credit $ 41000 65200 120000 28000 33 600 16000 721000 $ 300,000 57200 240000 121000 130000 1 609 000