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Question 3 (20 marks Henry LH began operations on 1 July 2017. The adjusted trial balance on 30 June 2010 are shown below: Cr 7,200

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Question 3 (20 marks Henry LH began operations on 1 July 2017. The adjusted trial balance on 30 June 2010 are shown below: Cr 7,200 Henry Lid Adjusted Trial Balance as at 30 June 2010 Account names Dr Cash 22.000 Prepaid Insurance 8,800 Supplies 9,800 Land 100,000 Motor Vehicles 580,000 Accumulated Depreciation - Motor Vehicles Factory Equipment 134,400 Accumulated Depreciation - Factory Equipment Accounts Payable Rent Rev Rec'd in Advance Salaries Payable Interest Payable Loan Payable Share Capital Retained Earnings - 1 July 2018 Interest Revenue Depreciation Expense 17,200 Insurance Expense 3.800 Interest Expense 8.400 Salaries Expense 34.400 Supplies Expense 5.600 Total S924,000 I Required: 6.000 37.800 16.800 2.400 8.400 280.000 200.000 280.000 85,800 $924.000 a) Prepare an income statement and a calculation of retained earnings for the 12-month ended 30 June 2019. (9 marks) b) Prepare a statement of financial position as at 30 June 2010 (11 marks)

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