Trial Balance of Perfection Retail Pty Ltd

as at 30/6/2018

Account Name

Balance

Accounts Receivable

149800

Allowance for Doubtful Debts

1696

Inventory

158000

Prepaid expense

2460

Plant and Equipment

30392

Accumulated Depreciation - Plant and Equipment

10636

Motor Vehicles

142732

Accumulated Depreciation - Motor Vehicle

64228

GST Paid

11400

Bank Overdraft

14340

Accounts Payable

24188

Accrued expenses

2040

GST Collected

12800

Share Capital

199819

Dividends Paid

5936

Sales

864080

Cost of Goods Sold

302815

Advertising

10908

Salaries

338172

Equipment rent

11512

Discount Received

2928

Insurance

10616

Electricity

6208

Telephone

3976

Stationery

980

Interest on Overdraft

2100

Bad Debts

8748

1)Classify the above accounts as to whether it is a/an current asset (CA), non-current asset (NCA), current liability (CL), non-current liability (NCL), equity, revenue, cost of goods sold, or expense.

2)Create Statement of Profit or Loss and Balance Sheet.