Question
The following list of account balances were provided by Cate Clearly, who runs Cee Clearly Window Washers: Accounts Payable $ 17,500 Interest Received $ 600
The following list of account balances were provided by Cate Clearly, who runs Cee Clearly Window Washers: Accounts Payable $ 17,500 Interest Received $ 600 Accounts Receivable $ 17,250 Loan payable (2025) $ 12,500 Accumulated Depreciation(MV) $ 10,500 Motor Vehicle (MV) $ 79,000 Capital C. Clearly $ 50,000 Office Furniture $ 8,000 Cash $ 89,925 Phone expense $ 1,500 Depreciation Expense $ 5,250 Prepaid Insurance $ 3,500 Drawings C. Clearly $ 19,750 Rent Received in advance $ 5,950 Electricity expense $ 1,125 Service Revenue $ 167,000 Equipment $ 16,250 Wages expense $ 22,500 Required: Prepare a Statement of Financial Position in narrative format for Cee Clearly for the reporting date of 30 June 2021
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started