Question 3 - Johns Plumbing Services

You are a new Accounts Clerk of Johns Plumbing Services. Today you have generated the trial balance according to organisational policy and procedures. You have checked all input documents (All tax invoices, asset purchase documents).

After checking all documents, you have found a furniture invoice of $2000 dated 20 June wasn't entered in the system. It is not in Trial Balance and received an invoice from ABC Furniture, Invoice no ABC20103. You have discussed this with your manager and he has approved this invoice.

From the trial balance provided in the document 'Trial Balance - Johns Plumbing Services' in appendix, prepare an income statement and balance sheet statement including adjustments in accordance with organisation processes and accounting standards.

Trial Balance - Johns Plumbing Services

Johns Plumbing Services 30/6/20x1
Capital		9,550
Mortgage		2,500
Freehold premises	15,000
Plant and equipment	3,500
Motor vehicle	25,000
Acc Depreciation -Plant and equip		3,350
- Motor vehicle		4,950
5% Commonwealth bonds	4,000
Goodwill	5,500
Accounts Receivable	1,980
Accounts Payable		6,182
Cash at bank	15,000
Petty cash	150
Income		71,688
Advertising	580
Bad debts	110
Commission paid	2,290
Insurance	4,200
Interest on Govt bonds		690
Motor vehicle expenses	4,300
Printing and stationary	1,300
Salaries	16,000