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The following balances were extracted from the books of GZU Fin Management Co. on 30 July 2022. Sales Purchases Communication expense Rent and rates Insurance
The following balances were extracted from the books of GZU Fin Management Co. on 30 July 2022. Sales Purchases Communication expense Rent and rates Insurance expense Water & Electricity Sales returns 345 000 175 000 14 000 16 000 7 800 6 500 5 000 Purchases returns 4 200 Debtors 15 500 Creditors 9 700 Stock (1 July 2019) 22 900 Sundry expenses 11 100 Advertising 17 000 Carriage outwards 3 900 Bank charges 4 500 Salaries and wages 60 000 Telephone expenses 5 000 Bank Cash Land and buildings Plant and equipment Fixtures and Fittings Motor vehicles Drawings Long term loan Capital 75 000 11 000 700 000 280 000 350 000 220 000 43 000 45 000 1639300 Stock at the end of the year was valued $17 200 Required: Prepare a statement of comprehensive income for GZU Fin Management Co for the year ended 30 June 2020 and a Balance Sheet as at that date. (25)
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