4.35 Comprehensive problem of preparing a worksheet, statement of profit or loss and statement of financial...

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4.35 Comprehensive problem of preparing a worksheet, statement of profit or loss and statement of financial position LO5 Rotterdam Financial Services Pty Ltd, managed by Saphira Browne, provides accounting. taxation and financial planning services to dients residing in the inner Melboume area. The statement of financial position for Rotterdam Financial Services Pty Ltd as at 1 October 2021 is as follows. Assets Cash Accounts receivable Supplies Building Total assets Liabilities Accounts payable Equity Capital ROTTERDAM FINANCIAL SERVICES PTY LTD Statement of financial position as at 1 October 2023 $ 58 140 6840 13680 139 080 $217740 $28500 189 240 $217740 Total liabilities and equity During the three months from October to December. Rotterdam Financial Services Pty Ltd conducted the following transactions. 2021 October 4 Invoiced customer for various accounting and tax services $10032. to be paid by customer at end of month 4 Purchased new office furniture $17400 cash 10 Invoiced customer for financial planning services completed $18240. 14 Received $9120 payment from customers who were previously billed. 20 Paid supplier $4560 for office supplies purchased last month 28 Received a $5380 invoice from the Melbourne Times newspaper for advertising, due to be paid in two weeks Received payment from customer invoiced on 10 October 7 Paid employee salaries $17680 cesh Paid invoice from the Melbourne Times received on 28 October 15 Received gas and electricity bill to be paid one month later $274 31 November 11 23 Provided tax services to customers $3876 cash 30 Paid employee salaries $1140 and shop rent $1368 cash December 8 Paid gas and electricity bill dated 15 November 15 Owners contributed a further $34 200 cash to the business 23 Provided accounting (Quickan) services to customers for $2280, with payment due in one month 29 Received water bill $536 to be paid in three weeks 30 Paid employee salaries $912 Paid bank fees incured directly out of business's bank account $23 Required (a) Prepare a worksheet for Rotterdam Financial Services Pty Ltd for the business transactions from October to December 2021. (b) Using the data given above, prepare a statement of profit or loss for the quarter ending 31 December 2021 and a statement of financial position as at 31 December 2021 for Rotterdam Financial Services Pty Ltd. (c) Comment on the profit/loss for the business for the three months ending 31 December 2021. 4.35 Comprehensive problem of preparing a worksheet, statement of profit or loss and statement of financial position LO5 Rotterdam Financial Services Pty Ltd, managed by Saphira Browne, provides accounting. taxation and financial planning services to dients residing in the inner Melboume area. The statement of financial position for Rotterdam Financial Services Pty Ltd as at 1 October 2021 is as follows. Assets Cash Accounts receivable Supplies Building Total assets Liabilities Accounts payable Equity Capital ROTTERDAM FINANCIAL SERVICES PTY LTD Statement of financial position as at 1 October 2023 $ 58 140 6840 13680 139 080 $217740 $28500 189 240 $217740 Total liabilities and equity During the three months from October to December. Rotterdam Financial Services Pty Ltd conducted the following transactions. 2021 October 4 Invoiced customer for various accounting and tax services $10032. to be paid by customer at end of month 4 Purchased new office furniture $17400 cash 10 Invoiced customer for financial planning services completed $18240. 14 Received $9120 payment from customers who were previously billed. 20 Paid supplier $4560 for office supplies purchased last month 28 Received a $5380 invoice from the Melbourne Times newspaper for advertising, due to be paid in two weeks Received payment from customer invoiced on 10 October 7 Paid employee salaries $17680 cesh Paid invoice from the Melbourne Times received on 28 October 15 Received gas and electricity bill to be paid one month later $274 31 November 11 23 Provided tax services to customers $3876 cash 30 Paid employee salaries $1140 and shop rent $1368 cash December 8 Paid gas and electricity bill dated 15 November 15 Owners contributed a further $34 200 cash to the business 23 Provided accounting (Quickan) services to customers for $2280, with payment due in one month 29 Received water bill $536 to be paid in three weeks 30 Paid employee salaries $912 Paid bank fees incured directly out of business's bank account $23 Required (a) Prepare a worksheet for Rotterdam Financial Services Pty Ltd for the business transactions from October to December 2021. (b) Using the data given above, prepare a statement of profit or loss for the quarter ending 31 December 2021 and a statement of financial position as at 31 December 2021 for Rotterdam Financial Services Pty Ltd. (c) Comment on the profit/loss for the business for the three months ending 31 December 2021.