J K L M N P Q R S T U V W X Y Z AA AB AC AD AE AF AG AH AJ A B D E F G H 1 2 Question 1 3 4 The financial statement balances presented below are for Wellington Design Services for the end of the financial year, 30 June 2019: 5 6 Accounts payable 7 Accounts receivable $11,000 9,800 8 Accumulated depreciation - building 14,000 9 Administrative expenses 1,250 10 Advertising incurred 1,200 11 12 Advertising payable 1,200 13 Bank loan 110,000 14 Building 140,000 15 Capital 163,000 16 Cash 25,000 17 18 19 Depreciation Drawings 7,000 10,200 20 Electricity 2,800 21 Fees revenue 170,000 22 Inventory 20,000 23 Land 120,000 24 25 Motor vehicle expenses 20,000 26 Other expenses 38,000 27 Overhead expense 9,400 28 Rent revenue 50,000 29 Rent revenue received in advance 2,000 30 Salaries expense 40,000 31 Supplies used 20,000 32 33 34 35 36 37 38 39 Required: a) Prepare a Statement of Profit or Loss for Wellington Design Services at 30 June 2019. b) Discuss how management would use a Statement of Profit or Loss to assist in their decision making. 40 41 42 Q1 Q2 Q3 Q4 (+)