QUESTION 2 Balance Sheet The following information has been obtained for Bondy as at 30 June 20X6. Prepaid insurance $ 12 000 Income tax payable 18 000 Accounts receivable 15 000 Rent received in advance 5 000 Land (at fair value) 300 000 Vehicle (cost) 45 000 Accumulated depreciation - vehicle (1 July 2015) 15 000 Depreciation expense- vehicle 5 000 Cash at bank 7 000 Loan payable (repayable in 2019) 60 000 Accrued expenses 8 000 Owners equity - closing ? Required: Prepare a properly classified statement of financial position in narrative format for Bondy Ltd on 30 June 20X6. Total marks - Question 2 = 8 Marks