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Allans Timber Warehouse account year end balances are as follows at 30 June 2022: Allans Timber Warehouse 30 June 2022 Account titles Cash at bank

Allans Timber Warehouse account year end balances are as follows at 30 June 2022:

Allans Timber Warehouse

30 June 2022

Account titles
Cash at bank 4,500
Inventory 45,700
Accounts payable 3,900
Office Supplies on hand 600
Accounts receivable 15,100
Unearned sales revenue 750
GST payable 900
Motor vehicle Van 25,000
Motor vehicle- Van Accumulated depreciation 5,500
Loan ($5,800 payable by 30 June 2023) 30,300
Capital Allen Cash 1/7/2021 39,100
Sales revenue 108,900
Drawings 12,000
Cost of goods sold 61,130
Sales and distribution expenses 7,900
Other expenses 18,220
Accrued liabilities 800

Note: No further adjustments to the account balances are required and disregard interest and tax.

Required:

  1. How much is the gross profit (Loss) for the year ended 30 June 2022

  1. How much is the net profit (Loss) for the period?

  1. How much is total of the current assets as at 30 June 2022? List the relevant account/s & balance/s.

  1. How much is total of the current liabilities as at 30 June 2022? List the relevant account/s & balance/s.

  1. How much is total of the owners equity as at 30 June 2022? List the relevant account/s & balance/s

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