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The following financial information relates to Tom Legal Services on 30 June 2021. Building Prepaid insurance 1,187,200 48,000 Salaries Expenses 216,000 Cash at Bank
The following financial information relates to Tom Legal Services on 30 June 2021. Building Prepaid insurance 1,187,200 48,000 Salaries Expenses 216,000 Cash at Bank 728,000 Service Revenue 862,000 Loan payable (due January 2022) 126,900 Electricity expense 62,000 Accounts receivable 248,000 Court expenses 28,800 Owner, Drawings 62,000 Unearned revenue 512,000 Supplies 20,000 Insurance expense 28,000 Accounts payable 18,100 Capital (1 July 2020) Mortgage 542,000 567,000 Required: Using the above information, prepare a fully classified Balance Sheet for the end of the financial year.
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