Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Consulting Fees Revenue 4400 (a) P or L Summary 88150 (2) Accounts receivable 88 150 Salaries Expense 5500 (6) Cash at bank 31 520 (b)

Consulting Fees Revenue 4400 (a) P or L Summary 88150 (2) Accounts receivable 88 150 Salaries Expense 5500 (6) Cash at bank 31 520 (b) P or L Summary 32700 (13) Salaries payable 1180 32700 32700 Electricity Expense 5503 (8) Cash at bank 3 600 (b) P or L Summary 3600 Advertising Expense 5504 (7) Accounts payable 3 360 (b) P or L Summary 3360 Depreciation Expense - Furniture and Equipment 5505 (12) Accum. depreciation 4600 (b) P or L Summary 4600 Rent Expense 5512 (14) Prepaid rent 14585 (b) P or L Summary 14585 Office Supplies Expense 5513 (11) Office supplies 1360 (b) P or L Summary 1360 Required (a) Prepare a 10-column worksheet for the year ended 30 June 2020. (b) Prepare a Statement of Profit or Loss for the year ended 30 June 2020. (c) Prepare a Statement of Changes in Equity for the year ended 30 June 2020. (d) Prepare a Statement of Financial Position as at 30 June 2020. (e) Make any necessary adjusting and closing entries for 30 June 2020 Make any suitable reversing entries on 1 July 2020. Prepare a post-closing trial balance as at 30 June 2020. Consulting Fees Revenue 4400 (a) P or L Summary 88150 (2) Accounts receivable 88 150 Salaries Expense 5500 (6) Cash at bank 31 520 (b) P or L Summary 32700 (13) Salaries payable 1180 32700 32700 Electricity Expense 5503 (8) Cash at bank 3 600 (b) P or L Summary 3600 Advertising Expense 5504 (7) Accounts payable 3 360 (b) P or L Summary 3360 Depreciation Expense - Furniture and Equipment 5505 (12) Accum. depreciation 4600 (b) P or L Summary 4600 Rent Expense 5512 (14) Prepaid rent 14585 (b) P or L Summary 14585 Office Supplies Expense 5513 (11) Office supplies 1360 (b) P or L Summary 1360 Required (a) Prepare a 10-column worksheet for the year ended 30 June 2020. (b) Prepare a Statement of Profit or Loss for the year ended 30 June 2020. (c) Prepare a Statement of Changes in Equity for the year ended 30 June 2020. (d) Prepare a Statement of Financial Position as at 30 June 2020. (e) Make any necessary adjusting and closing entries for 30 June 2020 Make any suitable reversing entries on 1 July 2020. Prepare a post-closing trial balance as at 30 June 2020. Consulting Fees Revenue 4400 (a) P or L Summary 88150 (2) Accounts receivable 88 150 Salaries Expense 5500 (6) Cash at bank 31 520 (b) P or L Summary 32700 (13) Salaries payable 1180 32700 32700 Electricity Expense 5503 (8) Cash at bank 3 600 (b) P or L Summary 3600 Advertising Expense 5504 (7) Accounts payable 3 360 (b) P or L Summary 3360 Depreciation Expense - Furniture and Equipment 5505 (12) Accum. depreciation 4600 (b) P or L Summary 4600 Rent Expense 5512 (14) Prepaid rent 14585 (b) P or L Summary 14585 Office Supplies Expense 5513 (11) Office supplies 1360 (b) P or L Summary 1360 Required (a) Prepare a 10-column worksheet for the year ended 30 June 2020. (b) Prepare a Statement of Profit or Loss for the year ended 30 June 2020. (c) Prepare a Statement of Changes in Equity for the year ended 30 June 2020. (d) Prepare a Statement of Financial Position as at 30 June 2020. (e) Make any necessary adjusting and closing entries for 30 June 2020 Make any suitable reversing entries on 1 July 2020. Prepare a post-closing trial balance as at 30 June 2020. Consulting Fees Revenue 4400 (a) P or L Summary 88150 (2) Accounts receivable 88 150 Salaries Expense 5500 (6) Cash at bank 31 520 (b) P or L Summary 32700 (13) Salaries payable 1180 32700 32700 Electricity Expense 5503 (8) Cash at bank 3 600 (b) P or L Summary 3600 Advertising Expense 5504 (7) Accounts payable 3 360 (b) P or L Summary 3360 Depreciation Expense - Furniture and Equipment 5505 (12) Accum. depreciation 4600 (b) P or L Summary 4600 Rent Expense 5512 (14) Prepaid rent 14585 (b) P or L Summary 14585 Office Supplies Expense 5513 (11) Office supplies 1360 (b) P or L Summary 1360 Required (a) Prepare a 10-column worksheet for the year ended 30 June 2020. (b) Prepare a Statement of Profit or Loss for the year ended 30 June 2020. (c) Prepare a Statement of Changes in Equity for the year ended 30 June 2020. (d) Prepare a Statement of Financial Position as at 30 June 2020. (e) Make any necessary adjusting and closing entries for 30 June 2020 Make any suitable reversing entries on 1 July 2020. Prepare a post-closing trial balance as at 30 June 2020

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

Step: 3

blur-text-image

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

Financial Accounting A Business Process Approach

Authors: Jane L. Reimers

1st Edition

0536633711, 978-0536633712

More Books

Students also viewed these Accounting questions

Question

2. The model is credible to the trainees.

Answered: 1 week ago