Question 3

Question 2: From the following account balances to 30 June 2020 prepare a statement of nancial position in the narrative classied format. Note: you will need to determine the balance of the retained earnings. (20 Marks) Type of Account 3 Accounts Receivable 46500 Provisions 50000 Prepayments 1200 Sales Revenue 455000 Plant and Equipment 220000 Other Current Assets 11000 Borrowings 120000 Interest on Borrowings E 6000 Accumulated Depreciation 48500 Accounts Payable 26000 Share Capital 450000 Land and Buildings 339000 Inventory 78000 Two Year Term Deposit 98500 Cash at Bank 32000 Retained Earnings ? Salaries expense 215000 Salaries Accrued 12500 Insurance Expense 9000 Annual Depreciation 22000 Utilities Expense 8500 Selling Expenses 25000 Question 3: From the accounts in question 2 above prepare a statement of prot or loss position for the period ended 30 June 2020. (10 Marks)