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You have been presented with the following information for a business for the month ending 30 th April 2022. (All of the information is for
You have been presented with the following information for a business for the month ending 30thApril 2022. (All of the information is for 2022).
- The business provided services to customers in April and the customers paid cash as soon as the services were provided. The total amount of cash received from the customers was $7,200.
- The business also provided services to customers totalling $6,200 in March. The business received all of the cash from the customers in April.
- The business received $2,100 cash from customers in advance in the month of April for services to be performed by the business in June.
- The business provided services to customers on credit in April totalling $6,300. The customers will pay the cash to the business in May.
- The business provided services to customers in May totalling $3,400. The customers paid the cash to the business as soon as the services were provided to the customers.
- The business paid $1,000 cash for 2 months insurance in April. The insurance was for the period 1/4/22 until 31/5/22.
- The business used cash to pay the wages for the business for the month of April totalling $7,500.
- The electricity expense for the business for the month of April was $600. The $600 was paid using cash by the business in the month of April.
- The business paid cash in April for wages for staff who worked for the business in March the amount was $4,300.
- The business paid $1,200 for 4 months rent on the 1st of April. The rent was for the period 1st April 31st July.
Income statement and Balance sheet
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