Your friend has asked you to produce financial statements for his business Mates Incorporated for the year 1 July 2018 to 30 June 2019. To make your job a little more difficult he has produced his adjusted trial balance in alphabetical order as he was unaware of the proper order.

Produce an Income Statement (Inc Trading Statement), Statement of Changes in Equity and Balance Sheet. Select from the Drop Down menu or enter an account or number in blank boxes. Do not use punctuation in answers. If the business had incurred a loss then add a negative to the amount in the Income Statement (eg -5000). Expenses should be listed in alphabetical order.

Account	Dr	Cr
Accounts Payable		5000
Accounts Receivable	4000
Accumulated Depreciation		3000
Capital Introduced		5000
Cash At Bank	8000
COGS	4000
Depreciation Expense	1000
Inventory	2000
Notes Payable (Due June 2022)		7000
Office Equipment	10000
Office Supplies	2000
Office Supplies Expense	1000
Owners Capital		2000
Salaries Expense	3000
Sales Revenue		13000
Total	35000	35000

Mates Incorporated
Income Statement
AnswerFor the Year Ended 30 June 2019As At 30 June 2019
AnswerSales RevenueCash At BankDepreciation ExpenseUnearned Service Revenue		Answer
AnswerAdd Cost of Goods SoldLess Cost of Goods SoldLess Expenses		Answer
Answer		Answer
Less: AnswerExpensesNon Current AssetsCOGS
Answer	Answer
Answer	Answer
Answer	Answer
AnswerTotal ExpensesTotal AssetsOwners Capital		Answer
Net Profit / -Loss		Answer

Mates Incorporated
Statement of Changes in Equity
AnswerFor the Year Ended 30 June 2019As At 30 June 2019
AnswerOpening Owners CapitalCurrent AssetsRevenue	Answer
Add: AnswerDrawingsCapital Introduced	Answer
Less: AnswerDrawingsCapital Introduced	Answer
Add: Answer	Answer
Less: Answer	Answer
AnswerTotal Liabilities and OENet ProfitClosing Owners Capital	Answer

Mates Incorporated
Balance Sheet
AnswerFor the Year Ended 30 June 2019As At 30 June 2019
AnswerCurrent AssetsCurrent LiabilitiesOwners Capital
Answer	Answer
AnswerAccounts ReceivableAccumulated DepreciationCash At Bank	Answer
AnswerOffice SuppliesAccounts PayableUnearned Service Revenue	Answer
Answer	Answer
AnswerTotal Current AssetsOwners CapitalTotal Current Liabilities		Answer
AnswerNon Current AssetsCurrent LiabilitiesOwners Capital
Office Equipment	Answer
Answer	Answer
AnswerTotal Non Current AssetsOwners CapitalTotal Current Liabilities		Answer
AnswerTotal AssetsTotal Current Asset and Current LiabilitiesOwners Capital		Answer
AnswerCurrent LiabilitiesExpensesOwners Capital
Answer	Answer
AnswerNotes PayableAccumulated DepreciationN/A	Answer
AnswerTotal Current LiabilitiesTotal Non Current Assets		Answer
AnswerNon Current LiabilitiesTotal Non Current LiabilitiesExpenses
AnswerN/ANotes PayableAccumulated Depreciation	Answer
AnswerTotal Current LiabilitiesTotal Non Current LiabilitiesTotal Assets		Answer
AnswerTotal LiabilitiesTotal Net AssetsOwners Equity		Answer
Answer
AnswerOwners CapitalOwners Drawings		Answer
Total Liabilities and Owners Equity		Answer