1. please create a SOCI and a statement of changes in equity for the year ending 30 June 2020 and a balance sheet as of that date :)

please note the following:

• The balance of Share Capital on 1 July 2019 was $800,000. An additional $200,000 of shares were issued on 1 December 2019.
• The balance of Prepaid Insurance represents premiums for the next six months.
• The Land and Buildings were revalued for the first time at the end of the current financial year.
• The rent revenue is considered incidental revenue.
• Poskie Ltd does not have an Accumulated Amortisation account in its chart of accounts; rather, the business credits Patents directly with the amortisation AJE, and the balance of Patents reflects that process, which is perfectly acceptable.
• Poskie Ltd uses the net purchases method for inventory transactions.

Trial Balance

30 June 2020

Cash ................................................................... Accounts Receivable.............................................. Notes Receivable (due in 2020)............................... Interest Receivable................................................ Inventory............................................................. Prepaid Insurance................................................. GST Clearing........................................................ Land ................................................................... Buildings.............................................................. Equipment............................................................ Patents................................................................ Allowance for Doubtful Accounts.............................. Accumulated DepreciationBuildings....................... Accumulated DepreciationEquipment..................... Accounts Payable.................................................. Income Taxes Payable........................................... Salaries and Wages Payable.................................... Unearned Rent Revenue......................................... Notes Payable (due in 2020)................................... Interest Payable.................................................... Loan Payable (due in 2022).................................... Share Capital........................................................ Retained Earnings................................................. Dividends............................................................. Revaluation Reserve, Land...................................... Revaluation Reserve, Building................................. Sales Revenue...................................................... Interest Revenue................................................... Rent Revenue....................................................... Gain on Disposal of Plant Assets.............................. OCI Revaluation Gain, Land ................................... Bad Debt Expense................................................. Cost of Goods Sold................................................ Sales Discounts..................................................... Depreciation Expense............................................. Income Tax Expense.............................................. Insurance Expense................................................ Interest Expense................................................... Discounts Lost...................................................... Other Operating Expenses...................................... Amortization Expense............................................ Salaries and Wages Expense................................... Loss on Revaluation, Building.................................. Inventory Write-down Loss..................................... Total...............................................................

$16,520 46,200 10,000 600 27,600 2,200 1,200 930,000 700,000 68,780 7,200 12,000 3,700 636,600 30,600 15,494 17,000 2,200 4,140 3,000 61,800 800 112,200 7,500 _____2,000 $2,719,334

$4,000 0 33,744 28,300 17,000 2,200 4,500 11,000 4,140 535,000 1,000,000 63,600 0 0 953,000 600 1,500 750 60,000 _________ $2,719,334