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Need answer for PART C only! I just have 30 minutes to finish. Thank You Your supervisor has requested your assistance with the preparation &

Need answer for PART C only! I just have 30 minutes to finish. Thank You

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Your supervisor has requested your assistance with the preparation & drafting of the Financial Reports of Suntory Ltd for the period ending 30 June, 2020. The company uses periodic inventory system. All sales of goods of Suntory Ltd. are on a credit basis. The Unadjusted Trial Balance of Suntory Ltd., as at 30 June 2020 shows the following ledger account balances: SUNTORY LTD Unadjusted Trial Balance as at 30 June 2020 Account Debit Credit Share capital $1 340 000 First Call 10 000 Retained earnings 92 000 Accounts payable 40 000 Bank overdraft (current) 220 000 Mortgage payable 400 000 Land $204 000 Buildings 800 000 Accumulated depreciation - buildings 140 000 Motor Vehicles 100 000 Accounts receivable 109 900 Provision for doubtful debts 2 000 Inventory (1 July 2019) 300 000 Investments 800 000 Sales 504 000 Interest revenue 35 000 Sales returns & allowances 5 000 Purchases 261 000 Freight inwards 3 000 Salaries 93 800 Directors Fees 6 000 Commission expense 2 000 Interest expense 20 000 Delivery expense 4 000 General expenses 54 300 $2 773 000 $2 773 000 PART C Your final task is to prepare closing balances for equity accounts and a Balance Sheet, including a detailed equity section as at 30 June, 2020 using the following information & with reference to the General Journal adjustments in Part A; The Share Capital account of Suntory Ltd. represents: January 2019 - 600 000 $1 shares issued and fully paid on application. September, 2019 - 1 000 000 $1 shares were issued on subscription with applications payable as follows; 25c per share payable on Application 250 per share payable on Allotment The remaining amount payable under Two Calls of.25c each Nov. 2019 The share issue is fully subscribed & directors proceed with allotments. Share issue costs of $10 000 were paid on November 15. Dec. 2019 All Application & Allotment money owing was fully paid Feb. 2020 Call #1 of 25c per share was made in February on these 1 000 000 shares, but 40 000 shareholders had failed to pay the call by 30 June 2020. An interim dividend of $30 000 has been paid during the year out of retained earnings. Required; Using the templates provided complete the balances to be carried down in the following Equity accounts; i. Share Capital ii. Call #1 iii. Retained Earnings iv. General Reserve Share Capital Balance b/d $600 000* Call #1 Retained Earnings General Reserve Prepare a Classified Balance Sheet for Suntory Ltd as at 30 June, 2020 also with reference to the General Journal adjustments in Part A. SUNTORY LTD Balance Sheet as at 30 June 2020

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