Listed below are balances at 30 June 2016. 1. Classify each account as an asset, liability, revenue,
Question:
Listed below are balances at 30 June 2016.
1. Classify each account as an asset, liability, revenue, expense or equity.
2. Prepare an income statement for the period ending 30 June 2016.
3. Prepare a balance sheet at 30 June 2016.
Transcribed Image Text:
Cash at bank Inventory Sales Wages Cost of goods sold Share capital Accounts payable $ 210000 60 000 210000 40 000 70 000 140 000 30 000
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Related Book For
Financial Accounting An Integrated Approach
ISBN: 9780170349680
6th Edition
Authors: Ken Trotman, Michael Gibbins, Elizabeth Carson
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