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Question 2 The following is the Trial Balance of Shiny Pharmacy as at 31 August 2020. Ignore GST. CR (S) DR (S) 2,800 1,300 Accounts
Question 2 The following is the Trial Balance of Shiny Pharmacy as at 31 August 2020. Ignore GST. CR (S) DR (S) 2,800 1,300 Accounts receivable Accounts payable Utilities Insurance Wages Interest on loan Office Equipment Computer Purchases Sales of goods Opening inventory Business rates Cash in hand Purchases returns & allowances Bank overdraft Mortgage loan Capital 2,000 500 2,300 500 20,000 45,000 10,000 45,000 5,000 1.800 5,450 2.000 7,000 10.000 30,050 95,350 95,350 Inventory as at 31 August 2020 is $8,500. Required: (a) Prepare a Statement of Comprehensive Income for the year ended 31 August 2020. 6) Prepare a Statement of Financial Position as at 31 August 2020. (Total: 10+10 = 20 marks)
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