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3076/20 Balance cia 25 200 C) Por L Summary 41 200 1/7/20 Balance b/d 18070 41 200 25 200 Tat Chiang, Drawings 25 000(d) T. Chiang, Capital 3301 25000 (5) Cash at bank 3320 88150 Profit or Loss Summary (b) Expenses 60205 (a) Income (Revenues) (c) T. Chiang Capital 27945 88150 88150 Page Break Consulting Fees Revenue (a) Por L Summary 88150 (2) Accounts receivable 4400 88 150 5500 32700 (6) Cash at bank (13) Salaries payable Salaries Expense 31 520 (b) Por L Summary 1180 32700 32700 5503 Electricity Expense 3600 (b) Por L Summary (8) Cash at bank 3600 Advertising Expense (7) Accounts payable 3360 (b) Por L Summary 5504 3360 Depreciation Expense - Furniture and Equipment (12) Accum. depreciation 4600 (b) Por L Summary 5505 4600 5512 Rent Expense 14585(b) Por L Summary (14) Prepaid rent 14585 5513 Office Supplies Expense (11) Office supplies 1360 (b) Por L Summary 1360 Required (a) Prepare a 10-column worksheet for the year ended 30 June 2020. (b) Prepare a Statement of Profit or Loss for the year ended 30 June 2020. (c) Prepare a Statement of Changes in Equity for the year ended 30 June 2020. (d) Prepare a Statement of Financial Position as at 30 June 2020. (e) Make any necessary adjusting and closing entries for 30 June 2020 (f) Make any suitable reversing entries on 1 July 2020. (9) Prepare a post-closing trial balance as at 30 June 2020. (h) Do you think Payneham Professional Services is in good financial position? Analyse and explain (500 words) -Section Break (Next Page) 3076/20 Balance cia 25 200 C) Por L Summary 41 200 1/7/20 Balance b/d 18070 41 200 25 200 Tat Chiang, Drawings 25 000(d) T. Chiang, Capital 3301 25000 (5) Cash at bank 3320 88150 Profit or Loss Summary (b) Expenses 60205 (a) Income (Revenues) (c) T. Chiang Capital 27945 88150 88150 Page Break Consulting Fees Revenue (a) Por L Summary 88150 (2) Accounts receivable 4400 88 150 5500 32700 (6) Cash at bank (13) Salaries payable Salaries Expense 31 520 (b) Por L Summary 1180 32700 32700 5503 Electricity Expense 3600 (b) Por L Summary (8) Cash at bank 3600 Advertising Expense (7) Accounts payable 3360 (b) Por L Summary 5504 3360 Depreciation Expense - Furniture and Equipment (12) Accum. depreciation 4600 (b) Por L Summary 5505 4600 5512 Rent Expense 14585(b) Por L Summary (14) Prepaid rent 14585 5513 Office Supplies Expense (11) Office supplies 1360 (b) Por L Summary 1360 Required (a) Prepare a 10-column worksheet for the year ended 30 June 2020. (b) Prepare a Statement of Profit or Loss for the year ended 30 June 2020. (c) Prepare a Statement of Changes in Equity for the year ended 30 June 2020. (d) Prepare a Statement of Financial Position as at 30 June 2020. (e) Make any necessary adjusting and closing entries for 30 June 2020 (f) Make any suitable reversing entries on 1 July 2020. (9) Prepare a post-closing trial balance as at 30 June 2020. (h) Do you think Payneham Professional Services is in good financial position? Analyse and explain (500 words) -Section Break (Next Page) 3076/20 Balance cia 25 200 C) Por L Summary 41 200 1/7/20 Balance b/d 18070 41 200 25 200 Tat Chiang, Drawings 25 000(d) T. Chiang, Capital 3301 25000 (5) Cash at bank 3320 88150 Profit or Loss Summary (b) Expenses 60205 (a) Income (Revenues) (c) T. Chiang Capital 27945 88150 88150 Page Break Consulting Fees Revenue (a) Por L Summary 88150 (2) Accounts receivable 4400 88 150 5500 32700 (6) Cash at bank (13) Salaries payable Salaries Expense 31 520 (b) Por L Summary 1180 32700 32700 5503 Electricity Expense 3600 (b) Por L Summary (8) Cash at bank 3600 Advertising Expense (7) Accounts payable 3360 (b) Por L Summary 5504 3360 Depreciation Expense - Furniture and Equipment (12) Accum. depreciation 4600 (b) Por L Summary 5505 4600 5512 Rent Expense 14585(b) Por L Summary (14) Prepaid rent 14585 5513 Office Supplies Expense (11) Office supplies 1360 (b) Por L Summary 1360 Required (a) Prepare a 10-column worksheet for the year ended 30 June 2020. (b) Prepare a Statement of Profit or Loss for the year ended 30 June 2020. (c) Prepare a Statement of Changes in Equity for the year ended 30 June 2020. (d) Prepare a Statement of Financial Position as at 30 June 2020. (e) Make any necessary adjusting and closing entries for 30 June 2020 (f) Make any suitable reversing entries on 1 July 2020. (9) Prepare a post-closing trial balance as at 30 June 2020. (h) Do you think Payneham Professional Services is in good financial position? Analyse and explain (500 words) -Section Break (Next Page) 3076/20 Balance cia 25 200 C) Por L Summary 41 200 1/7/20 Balance b/d 18070 41 200 25 200 Tat Chiang, Drawings 25 000(d) T. Chiang, Capital 3301 25000 (5) Cash at bank 3320 88150 Profit or Loss Summary (b) Expenses 60205 (a) Income (Revenues) (c) T. Chiang Capital 27945 88150 88150 Page Break Consulting Fees Revenue (a) Por L Summary 88150 (2) Accounts receivable 4400 88 150 5500 32700 (6) Cash at bank (13) Salaries payable Salaries Expense 31 520 (b) Por L Summary 1180 32700 32700 5503 Electricity Expense 3600 (b) Por L Summary (8) Cash at bank 3600 Advertising Expense (7) Accounts payable 3360 (b) Por L Summary 5504 3360 Depreciation Expense - Furniture and Equipment (12) Accum. depreciation 4600 (b) Por L Summary 5505 4600 5512 Rent Expense 14585(b) Por L Summary (14) Prepaid rent 14585 5513 Office Supplies Expense (11) Office supplies 1360 (b) Por L Summary 1360 Required (a) Prepare a 10-column worksheet for the year ended 30 June 2020. (b) Prepare a Statement of Profit or Loss for the year ended 30 June 2020. (c) Prepare a Statement of Changes in Equity for the year ended 30 June 2020. (d) Prepare a Statement of Financial Position as at 30 June 2020. (e) Make any necessary adjusting and closing entries for 30 June 2020 (f) Make any suitable reversing entries on 1 July 2020. (9) Prepare a post-closing trial balance as at 30 June 2020. (h) Do you think Payneham Professional Services is in good financial position? Analyse and explain (500 words) -Section Break (Next Page) Consulting Fees Revenue (a) Por L Summary 88150 (2) Accounts receivable 4400 88 150 5500 Salaries Expense 31 520 (b) Por L Summary 1180 (6) Cash at bank (13) Salaries payable 32700 32700 32700 Electricity Expense 3 600 (b) Por L Summary 5503 3600 (8) Cash at bank 5504 Advertising Expense (7) Accounts payable 3 360 (b) Por L Summary 3360 5505 Depreciation Expense - Furniture and Equipment (12) Accum. depreciation 4600(b) Por L Summary 4600 5512 Rent Expense 14585(b) Por L Summary (14) Prepaid rent 14585 Office Supplies Expense (11) Office supplies 1360 (b) Por L Summary 5513 1360 Required (a) Prepare a 10-column worksheet for the year ended 30 June 2020. (b) Prepare a Statement of Profit or Loss for the year ended 30 June 2020. (c) Prepare a Statement of Changes in Equity for the year ended 30 June 2020. (d) Prepare a Statement of Financial Position as at 30 June 2020. (e) Make any necessary adjusting and closing entries for 30 June 2020 (f) Make any suitable reversing entries on 1 July 2020. (9) Prepare a post-closing trial balance as at 30 June 2020. (h) Do you think Payneham Professional Services is in good financial position? Analyse and explain (500 words)