Financial data for Safety Hire as of 30 June 2019 is shown below. Required (a) Prepare an

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Financial data for Safety Hire as of 30 June 2019 is shown below.

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(a) Prepare an income statement for the month of June and a balance sheet in account format for Safety Hire as at 30 June 2019.

(b) Discuss if, and how, the financial reports that you have prepared would change if you were aware that the wages expense included $20 000 of drawings by the owner of Safety Hire.

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Financial Accounting

ISBN: 9780730363217

10th Edition

Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie, Andreas Hellmann, Jodie Maxfield

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