instructions

create a statement of comprehensive income and a statement of changes in equity for the year ending 30 June 2020 and a balance sheet as of that date :)

note the following:

• The balance of Share Capital on 1 July 2019 was $800,000. An additional $200,000 of shares were issued on 1 December 2019.
• The balance of Prepaid Insurance represents premiums for the next six months.
• The Land and Buildings were revalued for the first time at the end of the current financial year.
• The rent revenue is considered incidental revenue.
• Poskie Ltd does not have an Accumulated Amortisation account in its chart of accounts; rather, the business credits Patents directly with the amortisation AJE, and the balance of Patents reflects that process, which is perfectly acceptable.
• Polskie Ltd uses the net purchases method for inventory transactions.
• please note that the $10,000 of notes receivable due in the adjusted trial balance is due in 2020

+ $16,520 46,200 10,000 600 27,600 2,200 1,200 930,000 700,000 68,780 7,200 Peskie Ltd Adjusted Trial Balance 30 June 2020 Cash Accounts Receivable... Notes Receivable (due in 2020) Interest Receivable Inventory Prepaid Insurance GST Clearing.. Land Buildings Equipment Patents.. Allowance for Doubtful Accounts Accumulated Depreciation-Buildings.. Accumulated Depreciation Equipment Accounts Payable....... Income Taxes Payable..... Salaries and Wages Payable Unearned Rent Revenue Notes Payable (due in 2020) Interest Payable Loan Payable (due in 2022). Share Capital Retained Earnings... Dividends Revaluation Reserve, Land Revaluation Reserve, Building. Sales Revenue.. Interest Revenue............. Rent Revenue... Gain on Disposal of Plant Assets OCI Revaluation Gain, Land Bad Debt Expense..... Cost of Goods Sold.. Sales Discounts Depreciation Expense Income Tax Expense Insurance Expense. Interest Expense Discounts Lost. Other Operating Expenses Amortization Expense...... Salaries and Wages Expense Loss on Revaluation, Building Inventory Write-down Loss Total I $4,000 0 33,744 28,300 17,000 2,200 4,500 11,000 4,140 535,000 1,000,000 63,600 12,000 0 0 953,000 600 1,500 750 60,000 3,700 636,600 30,600 15,494 17,000 2,200 4,140 3,000 61,800 800 112,200 7,500 2.000 $2.719.334 $2.719.334