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The adjusted trial balance of Taringa Pty Ltd is shown below. Using the information from the adjusted trail balance, prepare the following for the year
The adjusted trial balance of Taringa Pty Ltd is shown below. Using the information from the adjusted trail balance, prepare the following for the year ended on 31 July 2020: (A) Statement of profit and loss. (B) Statement of financial position. Taringa Pty Ltd Adjusted trail balance 31 July 2020 Credit Debit $5,400 1,000 2,200 1,800 15,000 Cash Prepaid expenses Accounts receivable Office supplies Office equipment Accumulated depreciation - Office equipment Accounts payable Interest payable Salaries payable Bank Loan Service revenue received in advance Share capital Retained earnings Dividends paid Service revenue Office supplies expense Depreciation expense Rent expense $4,000 900 100 1,000 2,000 5,000 12,000 4,400 2,500 3,500 600 2,500 1,900 $32,900 $32,900
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