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The question is to solve the profit and loss statement and balance sheet Fund 2D SPHERO 2D Line 1 2 2018 N- Ayah N started

The question is to solve the profit and loss statement and balance sheetimage text in transcribedimage text in transcribed

Fund 2D SPHERO 2D Line 1 2 2018 N- Ayah N started an electronic educational product business on Jan. 1 For the first month, no products were made or sold, but the following transactions occurred: January 1st 15th cash into the business. 217,000 which was 3 4 5 6 7 Owner introduced 32,000 Bought a Building at a cost of financed by Loan 1. Bought Equipment at a cost of financed by Loan 2. 30th 191,000 which was 8 9 10 February 3rd PURCHASES of computers for resale, paid by cash 28th Total SALES of computers, all for cash 28th Total Marketing Expenses, all paid by cash 30,000 150,000 20,000 11 Summary of transaction as at 28-Feb 32,000 217,000 217,000 12 Cash [Please see Working 1] 13 Equity 14 Building 15 Loan 1 16 Equipment 17 Loan 2 18 Purchases 19 Sales 20 Marketing Expenses 191,000 191,000 30,000 150,000 20,000 590,000 590,000 Working 1 Cash Transactions for January and February Equity Introduced Less: Purchases paid by cash Add: Sales (all cash) Less: Marketing Exps. paid by cash CASH BALANCE AT 28-Feb 2018 32,000 -30,000 150,000 -20,000 132,000 2D SPHERO 28-Feb 2018 Profit and Loss A/c for period ending INCOME EXPENSES Purchases 30,000 Sales 150,000 Marketing Expenses Net Profit (Balancing or Missing Figure) ( 150,000 -30,000 -20,000 ] 2D SPHERO 28-Feb 2018 Balance Sheet as at LIABILITIES ASSETS 217,000 Building Equipment 217,000 Loan 1 Loan 2 TOTAL LIABILITIES Cash EQUITY Equity Introduced 32,000 Add: Net Profit CLOSING BALANCE ON EQUITY A/C TOTAL ASSETS TOTAL EQUITY AND LIABILITIES

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