Fairy Bridge Ltd provided the following list of account balances at 31 December 2018. $ 12,670...

 

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Fairy Bridge Ltd provided the following list of account balances at 31 December 2018. $ 12,670 26,970 2,500 15,000 24,500 1,000 12,700 ? Accounts Payable Accounts Receivable Accrued expenses Accumulated Depreciation - Motor Vehicles Accumulated Depreciation - Furniture & Equipment Allowance for Doubtful Debts Bank Overdraft Capital Drawings Furniture & Equipment GST Collected (Payable) Income received in advance Income (revenue) accrued Inventory Land & buildings Loan from NAP bank (due 30 June 2021) Motor Vehicles 20,000 98,000 3,220 2,000 3,500 21,450 220,000 50,000 75,000 Mortgage (due 30 June 2029) 90,000 Prepaid expenses 2,400 Profit & Loss (Profit for the year) 51,200 Required: Prepare a properly classified Balance Sheet as at 31 December 2018. Fairy Bridge Ltd provided the following list of account balances at 31 December 2018. $ 12,670 26,970 2,500 15,000 24,500 1,000 12,700 ? Accounts Payable Accounts Receivable Accrued expenses Accumulated Depreciation - Motor Vehicles Accumulated Depreciation - Furniture & Equipment Allowance for Doubtful Debts Bank Overdraft Capital Drawings Furniture & Equipment GST Collected (Payable) Income received in advance Income (revenue) accrued Inventory Land & buildings Loan from NAP bank (due 30 June 2021) Motor Vehicles 20,000 98,000 3,220 2,000 3,500 21,450 220,000 50,000 75,000 Mortgage (due 30 June 2029) 90,000 Prepaid expenses 2,400 Profit & Loss (Profit for the year) 51,200 Required: Prepare a properly classified Balance Sheet as at 31 December 2018.

Answer rating: 100% (QA)

Fairy Bridge Ltd Balance Sheet as at 31 December 2018 Assets Current Assets Cash and Bank Overdraft1... View the full answer