Question: Part(A) Koala Cafe Pty Ltd started a cafe business on 1 July 2019. For the year ended 30June 2020, the following financial information was determined

Part(A)

Koala Cafe Pty Ltd started a cafe business on 1 July 2019. For the year ended 30June 2020, the following financial information was determined for their business:

Cash at bank

Building

Income Caf sales

Salaries and wages

Cost of goods sold

Equipment

$120000

400000

270000

220000

71000

63000

Accounts payable

Accounts receivable

Income Catering

Inventory

InternetExpense

Other expenses

$87000

8000

185000

15000

5000

10,000

Required:

(a) make an income statement for Koala Cafe Pty Ltd for the year ended 30 June 2020.

(b)make balance sheet for Koala cafe Pty Ltd as at 30 June 2020. You can use either T-format or narrative format

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