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(6 marks) Below is the Adjusted Trial Balance for Geoff Lee Ltd., for the three months ending 30th June 2022. Accounts Balances Accounts Balances Advertising
(6 marks) Below is the Adjusted Trial Balance for Geoff Lee Ltd., for the three months ending 30th June 2022. Accounts Balances Accounts Balances Advertising 18,800 Accum. Depreciation - Shop 15,000 Accounts Payable 54,000 Accum. Depreciation - Vehicle 20,000 Inventory on hand 78,800 Capital - G Lee 142,800 Cost of Goods Sold 174,000 Cash at Bank 24,400 Drawings 48,000 Sales Revenue 415,000 Depreciation - Shop Fittings 9,000 Delivery Vehicles 78,000 Depreciation -Vehicle 10,800 Prepaid Rent 8,000 Rent (70% Shop, 30% Office) 16,000 GST Collected 41,500 Shop Fittings 90,000 GST Paid 26,200 Interest on Loan 4,000 Accrued Advertising 400 Insurance (70% Shop, 30% Office) 3,200 PAYG Payable 6,400 Salaries and Wages (80% Shop, 20% 86,100 Accounts Receivable 53,000 Utilities (50% Shop, 50% Office) 26,800 Bank Loan (due 30/06/2025) 60,000 Required: Prepare a Classified Statement of Financial Position for Geoff Lee Ltd. as at 30 June 2022. Assets Cash at bank Statement of Financial Position as at 30 June 2022 ($) 24,400 (6 marks) ($) Liabilities and Owner's Equity Bank loan(due 30/06/2025) ($) ($) 60,000
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