QUESTION 2 - Financial Reporting ESCAPE FROM NEW YORK - TRIAL BALANCE AS AT 30 JUNE...

  

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QUESTION 2 - Financial Reporting ESCAPE FROM NEW YORK - TRIAL BALANCE AS AT 30 JUNE 2021 Debit ($) Credit (S) Cash Accounts Receivable Electricity Expense Insurance Expense Building Wages Expense Delivery Expense Telephone Expense Capital (1/7/20) Drawings Sales Income Cleaning Expense Accounts Payable Equipment Loan Payable Interest Payable Rent Expense General Expenses Advertising Expense Supplies Expense 38 000 12100 5 900 19 800 296 000 45 500 10 340 2600 22 500 1150 140 000 3 600 18 600 3750 6400 $626 240 226 340 320 400 16 200 60 500 2800 $626 240 Requirements: a. Prepare a Statement of Changes in Equity for the period and a balance sheet as at 30 June 2021. Balance Sheet As at 30/6/21 $ $ QUESTION 2 - Financial Reporting ESCAPE FROM NEW YORK - TRIAL BALANCE AS AT 30 JUNE 2021 Debit ($) Credit (S) Cash Accounts Receivable Electricity Expense Insurance Expense Building Wages Expense Delivery Expense Telephone Expense Capital (1/7/20) Drawings Sales Income Cleaning Expense Accounts Payable Equipment Loan Payable Interest Payable Rent Expense General Expenses Advertising Expense Supplies Expense 38 000 12100 5 900 19 800 296 000 45 500 10 340 2600 22 500 1150 140 000 3 600 18 600 3750 6400 $626 240 226 340 320 400 16 200 60 500 2800 $626 240 Requirements: a. Prepare a Statement of Changes in Equity for the period and a balance sheet as at 30 June 2021. Balance Sheet As at 30/6/21 $ $

Answer rating: 100% (QA)

Items of trial balance are shown at one place either Income statement or Balance sheet In... View the full answer