The following account balances, dated 30 September 2020, are of sole trader Victoria Stone (Stone Bike Hire):
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The following account balances, dated 30 September 2020, are of sole trader Victoria Stone (Stone Bike Hire): capital (V Stone) $108 125; hire revenue $45000; bike maintenance $10000; administrative expense $5000; rent expense $2750; wages $10 000; interest expense $22500; cash at bank $3750; cash on hand $1250; office equipment $17500; bicycles $125000; gas and electricity expenses $3500; drawings $4375; accounts payable $8750; bank loan $43750. Use this information to prepare a statement of profit or loss and a statement of financial position as at that date.
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Related Book For
Accounting Business Reporting For Decision Making
ISBN: 9780730369325
7th Edition
Authors: Jacqueline Birt, Keryn Chalmers, Suzanne Maloney, Albie Brooks, Judy Oliver, David Bond
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