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Question 2 (42 marks) The following balances were extracted from Tom Courier Service's books on 30 June 2020. $ Capital 20,000 Courier revenue 86,425 Wages

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Question 2 (42 marks) The following balances were extracted from Tom Courier Service's books on 30 June 2020. $ Capital 20,000 Courier revenue 86,425 Wages and salaries 14,099 Motor van 39,300 Motor van expenses 11,330 Trade receivables 20,028 Trade payables 14,972 Office equipment 12,500 Premises 34,000 Investment 12,700 Dividend income 3,190 Utilities 7,200 Other expenses 11,700 Rental income 19,200 Drawings 8,720 Loan 20,000 Bank overdraft 8,290 Cash on hand 500 Additional information: The owner Tom issued a business cheque to pay for his home utilities of $174. He has forgotten to record this. Required: (1) Prepare a Statement of Profit or Loss for the year ended 30 June 2020. (ii) Prepare a Statement of Financial Position as at 30 June 2020

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