Listed below are balances at 30 June 2016. 1. Classify each account as an asset, liability, revenue,

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Listed below are balances at 30 June 2016.

Cash at bank Inventory Sales Wages Cost of goods sold Share capital Accounts payable $ 210000 60 000 210000

1. Classify each account as an asset, liability, revenue, expense or equity.
2. Prepare an income statement for the period ending 30 June 2016.
3. Prepare a balance sheet at 30 June 2016.

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Financial Accounting An Integrated Approach

ISBN: 9780170349680

6th Edition

Authors: Ken Trotman, Michael Gibbins, Elizabeth Carson

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Listed below are balances at 30 June 2016. 1. Classify each account as an asset, liability, revenue,

Question:

Cash at bank Inventory Sales Wages Cost of goods sold Share capital Accounts payable $ 210000 60 000 210000 40 000 70 000 140 000 30 000

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Account Classification Account Classification Cash at bank Asset I...View the full answer

Financial Accounting An Integrated Approach

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