QUESTION 2: Prepare a fully classified Balance Sheet (Narrative format)

Using the Adjusted Trial Balance provided below,

Pedal \& Surf Hire Adjusted Trial Balance For the vear ending 30 JUNE 2023 **The loan was taken out on 30 June 2022 and is payable in equal annual amounts over 5 years **\$20,000 of the insurance expense was Public Liability Insurance to cover for accidents that could occur as a result of renting out equipment and the balance of the insurance expense covers office equipment. The Internet \& Phone expense is split evenly between the shop and the office