In part one just classified accounts. and in the second part put figures into profit and loss and balance sheet from given material.

A. Identify the appropriate classification for each transaction or account name. Use the following terms for the classification. . . Current Asset Non-Current Asset Current Liability Non-Current Liability Shareholder's Equity Income Expense . . B. Complete column three (3) by indicating where the transaction is recorded. Choose either: . Profit & Loss or Balance Sheet Account Name Classification Amount Profit & Loss or Balance Sheet Profit & Loss Expense $117,325 $7,500 Pay Superannuation Pay Mobile Phone Pay Office Rent Land & Buildings Bank Fees $65,000 Non-Current Asset Balance Sheet $450,000 $4,600 $45,000 Advertising Office Sales Commission Received Directors Loan $1,175,000 $100,000 $15,000 Pay P&I Insurance Pay Subscriptions Trade Debtors $12,000 $75,500 Wages Director $180,000 $10,500 Pay Workers Compensation Received Rent $100,000 Pay Office Phone $8,800 Pay Internet $6,600 $450,000 Property Management Fees Received Interest on Bank Loans Wages Office $39,600 $250,000 $296,000 Strata Management Fees Received Waste Removal $6,000 Office Cleaning $50,000 Wages Salesmen $300.000 $150,000 Property Manager Wages Strata Manager Wages Capital $120,000 $200 Lease Repayment $14,400 Trade Creditors $13,000 $177,305 $155,000 Retained Earnings Previous years Bank Loan Due in 5 years Motor Vehicle Expenses Interest Received $18,200 $45,000 $235,000 Sales Commission Paid Stationery Printing $24,000 $30,000 Motor Vehicle $85,000 Cash at Bank $107.423 Fixtures & Fittings $32,500 $14,400 Lease Liability due within 12 months Payroll Tax $20,000 $28,800 Lease Liability due after 12 months Computers PAYG $28,000 $19,000 Bank Overdraft $21,726 C. Using the information contained in the table you have just completed to create a Profit and Loss Statement and a Balance Sheet using the two templates provided. UBeaut Real Estate Pty Limited Profit & Loss Statement as at 30th June 2017 Income Sales Commission Property Management Strata Management Rent Received Interest Received Total Income Expenses Advertising Office Bank Fees Interest on Bank Loans Internet Insurance - P&1 Lease Repayment Motor Vehicles Expenses Office Cleaning Office Rent Payroll Tax Phone - Mobile Phone - Office Printing Sales Commission Stationery Subscriptions Superannuation Wages - Director Wages - Office Wages - Property Managers Wages - Salesmen Wages - Strata Waste Removal Workers Compensation Total Expenses Net Profit Before Tax Tax @ 26% (Round Down) Net Profit After Tax Ubeaut Real Estate Pty Limited Balance Sheet as at 30th June 201X ASSETS Current Assets Cash at Bank Trade Debtors Total Current Assets Non-Current Assets Land & Buildings Motor Vehicle Computers Furniture & Fittings Total Non-Current Assets II TOTAL ASSETS LIABILITIES Current Liabilities Bank Overdraft Trade Creditors PAYG Lease Liability Total Current Liabilities Non-Current Liabilities Lease Liability Directors Loan Bank Loan Total Non-Current Liabilities TOTAL LIABILITIES | | || Shareholder's Equity Paid up Capital Retained Earnings previous years Retained Earnings current year Total Shareholder's Equity Total Liabilities & Shareholder's Equity