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Please could you provide solutions to both questions P6-1 and P6-2 both questions require: a.) statement of profit and loss? b.) statement of changes in
Please could you provide solutions to both questions P6-1 and P6-2 both questions require: a.) statement of profit and loss? b.) statement of changes in equity? c.) statement of financial position?
Please include working out (as done in previous questions)
art of East Londo P6 '1 nd of its accoun Iy Bodies Gym i Sue Legg owns and operates the Shape er The trial balance of Shapely Bodies Gym at 31 Decemb period, is as follows: a trendy P n20X6, the *3 SHAPELY BODIES GYM TRIAL BALANCE AT 31 DECEMBER 20X6 Dr . 15 500 Bank 24 gig , G su lies on hand 5 yrn pp 269 500 4 Insurance paid in advance Gym equipment: carrying amount Loan S Legg - capital S Legg - distributions Gym fees Salaries expense Advertising expense Equipment repairs expense Waller and electricity expense Rent expense Telephone expense > 2m; 33c! interest expense The following additional information is to be taken into 1. Gym supplies on hand, CZ 250. ' K Pk zf'WEmired insurance, 05 300. -. 3; The gym equipment has an estimated ram 1 January 20X6. The residual value is estimated\" 4. ' Salaries unpaid on 31 December, ,0234 5. The lease contract on the human\" ' " gym inchme, with '02 000 payabi; w was paid each month and (immune: :- 0n 31 December waterha'hd" : a - 1' *'v'Aiiioan' Was when mt: ' ' i ' A , 3. ,, v-aniM contract mils for annual pay'm'en wireduae das'amowa A {3 atthe end of 10! WNW ,, A \fChapter 6 Preparation and Presentation of Financial Statements P6-2 As an alternative to a part-time 10b earning 020 per hour, Rupert Carr decided to rent and then hire out a stretch limo with a chauffeur and free champagne. over the festive season through to Valentine's Day. He called his business venture Arrive in Style and it operated for the three months from 15 November to 15 February. Usually Rupert acted as the chauffeur, but on some occasions one of his friends did instead. When Rupert started Arrive in Style, he wuthdrew C2 000 from his personal savings account and he then operated the business on a cash basis. _ \"l, ,1, '4; has come to you with the following i months ended 15 February 20X7: ANALYSIS OF RECEIPTS AND PAYMENTS Receipts investment from personal funds Receipts from hiring of stretch limo Loan from bank Payments Purchase of iPad to use in the business ' Supplies of champagne and glasses Fuel ' ' Rental payments in respect of strettrltrig Wages paid to drivers . insurance Part repayment of bank loan Cash for personal expgrgses I '3' v: . ,3, Cash on hand at 115;-Step by Step Solution
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