Genesis has provided the following accounts and their closing balances for the year ended 30 June...

 

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Genesis has provided the following accounts and their closing balances for the year ended 30 June 2022: Account balance Accounts Payable Accounts Receivable Acc. Dep. Equipment Advertising Expense Bank Loan (due in August 2022) Capital, 1st July 2021 Cash at Bank Cost of goods sold Depreciation Expense $ Account balance 30,000 Drawings 35,000 Equipment 17,000 5,400 60,000 GST Collected GST Paid PAYG Withheld 166,800 Rent Expense 150,000 Sales Revenue 26,000 Wages Expense 2,000 $ 15,400 93,000 22,000 37,200 2,000 8,000 80,200 6,000 Required: Prepare a classified Statement of Financial Position for Genesis for the year ended 30 June 2022. Genesis has provided the following accounts and their closing balances for the year ended 30 June 2022: Account balance Accounts Payable Accounts Receivable Acc. Dep. Equipment Advertising Expense Bank Loan (due in August 2022) Capital, 1st July 2021 Cash at Bank Cost of goods sold Depreciation Expense $ Account balance 30,000 Drawings 35,000 Equipment 17,000 5,400 60,000 GST Collected GST Paid PAYG Withheld 166,800 Rent Expense 150,000 Sales Revenue 26,000 Wages Expense 2,000 $ 15,400 93,000 22,000 37,200 2,000 8,000 80,200 6,000 Required: Prepare a classified Statement of Financial Position for Genesis for the year ended 30 June 2022.

Answer rating: 100% (QA)

To prepare the classified Statement of Financial Position Balance Sheet for Genesis as of June 30 20... View the full answer