Please prepare the income statement from trial balance below and also a balance sheet (please ignore that
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244 501 Acc. No. Account 201 Accounts Payable 102 Accounts receivable 159 Accum. Depreciation - Motor Vehicle 156 Accum. Depreciation - Office Furniture 610 Advertising Expense 251 Bank Loan 301 Capital 101 Cash 601 Computer Expense 604 Consulting Expense Consulting Fees Payable Cost of Good Sold 605 Insurance Expense 240 Interest Due 603 Interest Expense 143 Interest Receivable 403 Interest Revenue 103 Inventory 158 Motor Vehicle 155 Office Furniture 104 602 651 Depreciation Expense - Motor Vehicle 655 Depreciation Expense - Office Furniture 302 Drawings 222 GST Collected 111 GST Paid Office Supplies Office Supplies Expense 261 PAYG Withheld 606 607 141 Prepaid Insurance 142 Prepaid Rent Adjusted Trial Balance "For the Month Ending 31/8/2022" Rent Expense Sales Commission Expense 401 Sales Revenue 402 Service Revenue 241 608 Unearned Revenue Utilities Expense 243 Utilities Payable 609 Wage Expense 242 Wages Payable TOTAL Dr 31,720 3,350 205,948 1,414 5,868 51,152 8,160 10,080 6,680 9,775 2,606 3,853 41,952 73,440 40,320 47,156 19,800 16,968 5,115 6,300 13,990 4,008 609,655 Cr 6,294 24,480 20,160 31,312 245,884 2,934 20,212 9,900 2,606 3,853 110 5,828 1,848 170,506 10,058 51,646 2,100 609,731 244 501 Acc. No. Account 201 Accounts Payable 102 Accounts receivable 159 Accum. Depreciation - Motor Vehicle 156 Accum. Depreciation - Office Furniture 610 Advertising Expense 251 Bank Loan 301 Capital 101 Cash 601 Computer Expense 604 Consulting Expense Consulting Fees Payable Cost of Good Sold 605 Insurance Expense 240 Interest Due 603 Interest Expense 143 Interest Receivable 403 Interest Revenue 103 Inventory 158 Motor Vehicle 155 Office Furniture 104 602 651 Depreciation Expense - Motor Vehicle 655 Depreciation Expense - Office Furniture 302 Drawings 222 GST Collected 111 GST Paid Office Supplies Office Supplies Expense 261 PAYG Withheld 606 607 141 Prepaid Insurance 142 Prepaid Rent Adjusted Trial Balance "For the Month Ending 31/8/2022" Rent Expense Sales Commission Expense 401 Sales Revenue 402 Service Revenue 241 608 Unearned Revenue Utilities Expense 243 Utilities Payable 609 Wage Expense 242 Wages Payable TOTAL Dr 31,720 3,350 205,948 1,414 5,868 51,152 8,160 10,080 6,680 9,775 2,606 3,853 41,952 73,440 40,320 47,156 19,800 16,968 5,115 6,300 13,990 4,008 609,655 Cr 6,294 24,480 20,160 31,312 245,884 2,934 20,212 9,900 2,606 3,853 110 5,828 1,848 170,506 10,058 51,646 2,100 609,731
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Interpreting and Analyzing Financial Statements
ISBN: 978-0132746243
6th edition
Authors: Karen P. Schoenebeck, Mark P. Holtzman
Posted Date:
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