Question: need help with this ASAP Question 2: Sea Eagle Ltd 125 marks Sea Eagle Ltd. began its operations on 1 April 2018. The trial balance
need help with this ASAP

Question 2: Sea Eagle Ltd 125 marks Sea Eagle Ltd. began its operations on 1 April 2018. The trial balance at 31 March 2019 is as below Sea Eagle Ltd Unadjusted Trial Balance as at 31 March 2019 Debit Credit Account Title Accounts Receivable Cash at Bank Cost of Sales 55,000 72,150 65,000 70,000 23,100 675 47,000 100 66,000 500 1,700 t (cost) Rent Ex Interest Ex Invento d Rent Sales Salaries Ex Sales Returns and Allowances Supplies (asset) Tele Vehicle (cost) Selling Ex Accounts Payable Interest Payable Share Capital 950 33,000 500 44,500 675 160,000 1,850 45,000 197,500 S 449.525 S 449.525 Bank Loan: Kiwi bank (9% interest p.a. Sales Additional data as at 31 March 2019: (a) (b) (c) Supplies on hand at 31 March 2019 total $800 Annual rental of $25,200 was paid on 1 April 2018. Atelephone bill for $215 was received from Spark phone and is payable on 15 April 2019. It has not yet been recorded in the Accounts Payable. (d) Sales salaries of S5,000 are owed at 31 March 2019 (e No depreciation has been charged during the year. Depreciation is to be charged at the following rates: Equipment: The straight-line method at a rate of 10% is used for all the equipment. Note: Some equipment was bought on April 2018; the remainder of the equipment was bought on 1 September 2018 at a cost of $25,000. Estimated residual value of all Equipment is nil. Part A-Question 2 continued Vehicle: The company vehicle was bought on 1 October 2018 and has a useful life of 5 years. The estimated residual value is $5,000. Straight-line depreciation method is used for the vehicle. (f) The ANZ loan of $45,000 was taken out on 1 January 2019 for five years. The principal of the loan is to be repaid at the end of the loan term. The interest on the loan is due annually at a rate of 9% pa., but paid on the first day of the following year. T he interest is calculated on a monthly basis but not compounded. (g) All profits are retained at the end of the year. Required: For the purpose of this question, please ignore GST, Income Tax, and PAYE. Show AL L your workings. Narrations for journ als are NOT required. i.Journalize the adsting entries on 31 March 2019 ii.Complete the Worksheet for the year ended 31 March 2019 iii. Prepare an Unclassified Statement of Profit or Loss and Comprehensive Income for Sea Eagle Ltd for the year ended 31 March 2019. Your answer should clearly identify Net Sales and Gross Proft Prepare a Statement of Changes in Equity, for Sea Eagle Ltd for the year ended 31 iv March 2019 Prepare a Classified Statement of Financial Position for Sea Eagle Ltd for the year ended 31 March 2019 Total Part A 50 marks]
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