Question
The information below was provided by Hannas shop at 30 June 2019. Item $ Capital (at 1 July 2018) 925,000 Bank loan (due in 2025)
The information below was provided by Hannas shop at 30 June 2019.
Item | $ |
Capital (at 1 July 2018) | 925,000 |
Bank loan (due in 2025) | 421,000 |
Machine | 175,000 |
Bank overdraft | 42,000 |
Accounts receivable | 50,000 |
Depreciation on Assets | 20,000 |
Drawings | 160,000 |
Accounts payable | 95,000 |
Cash at Bank | 85,000 |
Investment revenue rent received | 70,000 |
Rental expenses on factory | 38,000 |
Wages and Salaries | 125,000 |
Service revenue | 385,000 |
Land and Buildings | 1,285,000 |
Prepare an income statement, a statement of changes in equity and a balance sheet for Hannas shop at 30 June 2019. Please ensure you use the correct format for each financial report, you write the correct heading and date for each financial report, and you correctly classify assets and liabilities as current/non-current.
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