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QA2 QA 3 QA4 QA 5 QA 6 QA 7 DO NO E G H a You must record your answer in the space below the question on this page Answers recorded elsewhere will not be marked MARKS QUESTION 10 + 5 Ong Surfer (O Surf) opened Singapore Surfboards (SS) on 1 June 2019. On 31 May 2020, records showed the following accounts: 7 8 9 $ 1 13 14 M 17 Accounts receivable Promotion expense Cash at bank Accounts payable Equipment (surfboards) Surfing supplies on hand Premises O Surfer Capital Salaries expense Surfing supplies used Surfing lessons income Equipment (surfboards) Long term loan O. Surfer, drawings Repairs expenses Admin expenses 1424 204 76 226 1962 130 1600 4200 296 272 4642 3600 1400 320 410 174 22 24 26 23 Required: Using statement format (not worksheet format) a Prepare an income statement for Singapore Surfboards for the year ended 31 May 2020 b Prepare a balance sheet, in as at 31 May 2020. 4 marks 6 marks 30 31 52 Record YOUR ANSWER (below) 30 34 36 36 0 41Step by Step Solution
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