Question 14 (10 marks) Andre McEnroe is the accountant for Beckers Tennis Academy. Andre recently completed his accounting degree, and the owner of the business, Ivan Becker has asked Andre to prepare a Statement of Financial Position as at 30th June, 2022 for a presentation to company executives. Below is the Statement of Financial Position prepared by Andre using the account format. Ivan is concerned that the financial statement is not correct and has asked you to review it. Beckers Tennis Academy

Statement of Financial Position as at 30 June 2022 Assets $ Liabilities & Owners Equity $ Cash at bank 28,400 Accounts Receivable 11,900 Profit for the year 15,100 Capital I. Becker 49,000 Prepaid Rent 9,900 Equipment 65,000 Accounts Payable 12,400 Accumulated Depreciation Equipment 12,000 Revenue received in Advance 4,900 Loan Payable (due to be repaid in 2024) 21,800 Required: Assume that the account balances Andre has used are correct. Prepare a corrected Statement of Financial Position for the business using the narrative format as at 30th June 2022.

Question 14 (10 marks) Andre McEnroe is the accountant for Beckers Tennis Academy. Andre recently completed his accounting degree, and the owner of the business, Ivan Becker has asked Andre to prepare a Statement of Financial Position as at 30th June, 2022 for a presentation to company executives. Below is the Statement of Financial Position prepared by Andre using the account format. Ivan is concerned that the financial statement is not correct and has asked you to review it. Beckers Tennis Academy

Statement of Financial Position as at 30 June 2022 Assets $ Liabilities & Owners Equity $ Cash at bank 28,400 Accounts Receivable 11,900 Profi

Required: Assume that the account balances Andre has used are correct. Prepare a corrected Statement of Financial Position for the business using the narrative format as at 30th June 2022