Samsung Electronics

Unadjusted Trial Balance as at 30 June 2023

	Debit ($)	Credit ($)
Cash	25,000
Accounts Receivable	35,000
Inventory	45,000
Equipment	150,000
Accumulated Depreciation - Equipment		50,000
Accounts Payable		20,000
Notes Payable		40,000
Common Stock		100,000
Retained Earnings		50,000
Sales Revenue		150,000
Cost of Goods Sold	90,000
Rent Expense	10,000
Salaries Expense	15,000
Total	420,000	420,000

Required:

1. Prepare the Ledger Accounts for the above unadjusted trial balance.
2. Calculate the Adjusted Trial Balance.
3. Prepare the Income Statement for the period ended 30 June 2023.