Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Urgent QUESTION 3 Abrar, a consultant, had the following Trial Balance as at 30 June 2019: Debit Credit Cash 7,000 Accounts receivable 3,000 Office supplies

Urgent image text in transcribed
QUESTION 3 Abrar, a consultant, had the following Trial Balance as at 30 June 2019: Debit Credit Cash 7,000 Accounts receivable 3,000 Office supplies 3,000 Office equipment 5,000 Bank loan 5,000 Accounts payable 1,000 Common stock 10,000 Consulting revenue 7,000 Rent expense 600 Salaries expense 2,500 Supplies used 1,200 Utilities expense 700 Total 23,000 23,000 You are required to prepare: (a) Income statement for the month ended 30 June 2019. (10 marks) (b) Balance sheet as at 30 June 2019. (15 marks) (Total: 25 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Web Applications A Complete Guide

Authors: Gerardus Blokdyk

1st Edition

1038803721, 978-1038803726

More Books

Students also viewed these Accounting questions

Question

What should a small business owner do when merchandise is received?

Answered: 1 week ago

Question

List the activities associated with logistics

Answered: 1 week ago

Question

Approximately 3.3% of youths have ODD and 3.2% have CD.

Answered: 1 week ago