Question
The following information relates to YogaGuru for the year ended 30 June 2020. Prepaid rent 14,500 Accounts payable 52,700 Electricity expense 7,500 Unearned revenue 11,600
The following information relates to YogaGuru for the year ended 30 June 2020.
| Prepaid rent | 14,500 |
| Accounts payable | 52,700 |
| Electricity expense | 7,500 |
| Unearned revenue | 11,600 |
| Wages payable | 12,500 |
| Accumulated depreciation- Equipment | 8,600 |
| Capital | ? |
| Rent expense | 32,000 |
| Cash at bank | 75,800 |
| Wages expense | 135,400 |
| Supplies | 3,900 |
| Service revenue | 282,600 |
| Bank Loan (due in 2025) | 38,000 |
| Accounts receivable | 7,500 |
| Drawings | 4,000 |
| Equipment | 235,200 |
| Depreciation expense-Equipment | 8,600 |
Required: Prepare an Income Statement (6 marks), a fully classified Balance Sheet in narrative format (12 marks) and a Statement of Changes in Equity (4 marks) for the year ended 30 June 2020 for YogaGuru.
Income Statement:
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Fully narrative Balance Sheet:
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Statement of Changes in Equity
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The Curriculum Management Audit
Authors: Larry E. Frase, Fenwick W. English, William K. Poston
1st Edition
0810839318, 9780810839311
