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Part B - Financial Statements Sally runs her own retail business called Sally's Shoes Limited ( SSL ) . SSL uses a perpetual inventory system.
Part B Financial Statements Sally runs her own retail business called Sally's Shoes Limited SSL SSL uses a perpetual inventory system. It is the end of the X financial year and Sally has asked you to help he prepare the financial statements for the year ended st March X You have been provided with the adjusted trial balance as at st March X tabletableTrial BalanceSallys Shoes Limitedas at st March XDRCRBank#Bank #Accounts Receivable,Provision for Doubtful Debts,,InventoryShort Term Deposit,Work Vehicle Sales Team,Accumulated Depreciation Work Vehicle,,Accounts Payable,,LoanCapital as at April xFunds Introduced,,DrawingsIncomeCost of Goods Sold,Interest Income,,AdvertisingBad Debt Expense,Depreciation Expense,FreightInsuranceInterest Expense,Kitchen Supplies,Motor Vehicle Expenses,Rent Paid,StationerySales Commission Paid,Subscription Fees,WagesTotal Required: Using the adjusted trial balance prepare the Profit & Loss Statement and the Balance Sheet tableProfit and Loss StatementIncome the year ended st March X tableBalance Sheetas at st March XCurrent Assets,,Total Current Assets,,NonCurrent Assets,,Total NonCurrent Assets,,TOTAL ASSETS,,LIABILITIESTotal Current Liabilities,,NonCurrent Liabilities,,Total NonCurrent Liabilities,,TOTAL LIABILITIES,,NET ASSETS,,EQUITYOpening Balance,,Funds Introduced,,DrawingsProfitLossCLOSING EQUITY,, Have another go preparing the financial statements if your Net Assets and Closing quity don't come to
Part B Financial Statements
Sally runs her own retail business called Sally's Shoes Limited SSL SSL uses a perpetual inventory system. It is the end of the X financial year and Sally has asked you to help he prepare the financial statements for the year ended st March X You have been provided with the adjusted trial balance as at st March X
tabletableTrial BalanceSallys Shoes Limitedas at st March XDRCRBank#Bank #Accounts Receivable,Provision for Doubtful Debts,,InventoryShort Term Deposit,Work Vehicle Sales Team,Accumulated Depreciation Work Vehicle,,Accounts Payable,,LoanCapital as at April xFunds Introduced,,DrawingsIncomeCost of Goods Sold,Interest Income,,AdvertisingBad Debt Expense,Depreciation Expense,FreightInsuranceInterest Expense,Kitchen Supplies,Motor Vehicle Expenses,Rent Paid,StationerySales Commission Paid,Subscription Fees,WagesTotal
Required:
Using the adjusted trial balance prepare the Profit & Loss Statement and the Balance Sheet
tableProfit and Loss StatementIncome the year ended st March X
tableBalance Sheetas at st March XCurrent Assets,,Total Current Assets,,NonCurrent Assets,,Total NonCurrent Assets,,TOTAL ASSETS,,LIABILITIESTotal Current Liabilities,,NonCurrent Liabilities,,Total NonCurrent Liabilities,,TOTAL LIABILITIES,,NET ASSETS,,EQUITYOpening Balance,,Funds Introduced,,DrawingsProfitLossCLOSING EQUITY,,
Have another go preparing the financial statements if your Net Assets and Closing quity don't come to
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