ert Draw Design Layout References Mailings >> Tell me Share A. v A v v Font Paragraph Styles Dictate Sensitivity Create and Share Request Adobe PDF Signatures MAA103: Accounting for Decision Making T2 2020 Examination QUESTION 6 (7+1 - 8 marks) Porcelain is a manufacturer of ceramic products. Its management has projected values for the following account balances as at June 30, 2021. Projected loss for the financial year ending June 30, 2021 is $700 Required: Prepare a classified Balance Sheet for Porcelain as at June 30, 2021. (7 marks) Account titles Projected balance ($) Account titles Projected balance (8) 5,100 48,500 2.650 Assum. Dep. - Equipment Bank Loan (due in 5 years) GST Collected Bank Loan (due in 5 months) Share Capital Distributions to owners Accounts Payable Prepaid insurance 12,400 16,800 7,400 3,200 39,600 15,000 25,300 6,500 Inventory Equipment Bank overdraft GST Paid PAYG Withheld Prepaid Rent Accounts Receivable Wages Payable 4,700 6,350 7,200 29,800 3,200 Porcelain Projected Balance Sheet as at June 30, 2021 ($) (51 Liabilities + OE Assets ($) ($) Based on the projected account balances above, calculate the value of payment to or refund from the ATO Porcelain would report in its Business Activity Statement for the period ending June 30, 2021. (1 mark) Answer here: Page 7 of 11