Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A local travel agency gives you a list of accounts and balances for the year to 30 June 2019. All balances are the accounts normal

image text in transcribedimage text in transcribedimage text in transcribed

A local travel agency gives you a list of accounts and balances for the year to 30 June 2019. All balances are the accounts normal balance. Prepare a trial balance in the correct order and then the Financial Statements. Sales Revenue Accounting Element 70,000 Revenue 25,000 Expenses Salaries Expenses Owners Capital Capital Introduced 43,000 7,000 15,000 20,000 Cash at Bank Accounts Receivable Equipment 30,000 Salaries Payable 5,000 Supplies Expense 3,000 10,000 Supplies On Hand Rent Expense 22,000 Local Travel Agency Trial Balance Trial ba For the Year to 30 June 2019 Account Dr cash at bank 15000 Accounts Receivable 20000 Cr Equipment supplies on hand 30000 10000 owners capital capital introduced 43000 7000 5000 70000 salaries payable sales revenue Salaries Expense 25000 Supplies Expense 3000 rent expense TOTAL 22000 125000 125000 Local Travel Agency Income Statement For the Year Ended 30 June 2019 Owners Capital Less: Net Profit / Loss - Local Travel Agency Statement of Changes in Equity Opening Owners Capital Plus: Less: Plus: Less: Closing Owners Capital Local Travel Agency Balance Sheet Non Current Assets Total Non Current Assets Total Non Current Liabilities Total Liabilities and Owners Equity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing A Practical Manual For Auditors

Authors: Lawrence Robert Dicksee

1st Edition

1360462546, 978-1360462547

More Books

Students also viewed these Accounting questions

Question

What is service-oriented architecture?

Answered: 1 week ago