can anyone please let me know if I got both tasks 9 and 10 correct? (The whole thing) since I didn't add 'advertising', 'cartage outwards', 'rent', 'repairs&maintenance' for the expenses part... and I also need help with Task 11.

Capital 45,000 Drawings 45,000 Close Drawings to Capital Assessment 3 Process Financial Transaction and Extract Interim Reports I Analysis Assessment Task 3 of 4 version 1.1 Date last updated: 29/03/22 Student product assessment task @ Content is subject to copyright, RMIT University FINAL APPROVED - STUDENT PRODUCT ASSESSMENT TASK TEMPLATE - June 2019_Version 2.0 Page 15 of 26 STUDENT RMIT Classification: Trusted RMIT UNIVERSITY Task 10 Prepare Income Statement for the year ended 30 June 2021. Answer: Suron Kids Ltd Income Statement for the year ended 30 June 2021 Revenue Sales 408,760 Cost of Goods Sold Gross Profit 302,260 Less: Operating Expenses 228,490 Bad Debts Bank Fees 975 Electricity 8,640 Insurance 11,500 nterest Expense 9,475 Lease Expenses 8,400 Postage and Stationery 3,600 Salaries - Office 98,000 Salaries - Sales Staff 85,000 Net Profit 73,770Net Profit 73,770 Assessment 3 Process Financial Transaction and Extract Interim Reports I Analysis Assessment Task 3 of 4 version 1.1 Date last updated: 29/03/22 Student product assessment task @ Content is subject to copyright, RMIT University FINAL APPROVED - STUDENT PRODUCT ASSESSMENT TASK TEMPLATE - June 2019_Version 2.0 Page 16 of 26 STUDENT RMIT Classification: Trusted Task 11 Prepare Trial balance (after closing entries) as of 30 June 2021. Answer: Sumon Kids Ltd Trial Balance as of 30 June 2021 Accounts Payable Accounts Receivable Bank Overdraft Furniture & Equipment GST Collected (Payable) Land & Buildings Long Term Loan Motor Vehicles Inventory Accrued Expense Assessment 3 Process Financial Transaction and Extract Interim Reports I Analysis Assessment Task 3 of 4 version 1.1 Date last updated: 29/03/22 Student product assessment task @ Content is subject to copyright, RMIT University FINAL APPROVED - STUDENT PRODUCT ASSESSMENT TASK TEMPLATE - June 2019_Version 2.0 Page 17 of 26 STUDENT RMIT Classification: Trusted RMIT UNIVERSITY CapitalKumon Kids Ltd provided a trial balance for the year ended 30 June 2021. Only the balance date adjustment entries have been posted to the general ledger. KARR Kids Ltd - Trial Balance on 30 June 2021 Debit Credit Account Payable $ 16,150 Accounts Receivable $ 35,870 Accrued Expenses 1,900 Advertising 5,400 Allowance for Doubtful Debts 1,000 Bad Debts 2,900 Bank Fees 975 Capital 428,175 Cartage Outwards 2,015 Drawings 45,000 Bank Overdraft 5,260 Cost of Goods Sold 106,500 Electricity 8,640 Furniture & Equipment 148,600 GST Collected (Payable) 10,370 Insurance 11,500 Interest Expense 9,475 Interest Income 10,300 Inventory 16,740 Land & Buildings 300,000 Assessment 3 Process Financial Transaction and Extract Interim Reports I Analysis Assessment Task 3 of 4 version 1.1 Date last updated: 29/03/22 Student product assessment task @ Content is subject to copyright, RMIT University FINAL APPROVED - STUDENT PRODUCT ASSESSMENT TASK TEMPLATE - June 2019_Version 2.0 Page 13 of 26 RMIT Classification: Trusted ease Expenses 8,400 Long Term Loan 128,000 Motor Vehicles 110,500 Postage & Stationery 3,600 Rent 9,600Repairs & Maintenance 1,200 Salaries - Office 98,000 Salaries - Sales staff 85,000 Sales 408,760 $1,009,915 $1,009,915 Task 9 Prepare Closing General Journal entries on 30 June 2021 Answer: General Journal of KumARR, Kids Ltd Date Particulars Debit Credit 30/6/21 Sales 408,760 Trading 408,760 Balance transferred Trading 106,500 Cost of Goods Sold 106,500 Balance transferred Trading 302,260 Assessment 3 Process Financial Transaction and Extract Interim Reports I Analysis Assessment Task 3 of 4 version 1.1 Date last updated: 29/03/22 Student product assessment task @ Content is subject to copyright, RMIT University FINAL APPROVED - STUDENT PRODUCT ASSESSMENT TASK TEMPLATE - June 2019_Version 2.0 Page 14 of 26 STUDENT RMIT Classification: Trusted RMIT UNIVERSITY Profit and Loss 302,260 Gross Profit transferred Profit and Loss 228,490 Bad Debts 2,900 Bank Fees 975 Electricity 8,640 Insurance 11,500 Interest Expense 9,475 Lease Expenses 8,400 Postage and Stationery 3,600 Salaries - Office 98,000 Salaries - Sales staff 85,000 Transfer other expenses to P&L Profit and Loss 73, 770 Capital 73,770 Transfer Net Profit to Capital