Prepare Income Statement for the year ending 30 June 2022 based on the Trial Balance as at 30 June 2022 and the Schedule of Subsidiary Ledgers below.

  
 

 
 

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Unadjusted Trial Bal. Adjustments Adjusted Trial Bal. Income Balance Sheet Statement Account Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit 2,883,168 265,356 329,265 3,013,200 5,463,612 5,463,612 Cash at Bank 2,883,168 379,566 603,855 3,013,200 2,852,820 2,883,168 114,210 265,356 274,590 329,265 3,013,200 950,940 1,901,880 Accounts Receivable Control Stationery Supplies Inventory Prepaid Showroom Rent Paid 1 Mar. 2022) Prepaid Insurance Paid 1 Nov. 2021) Warehouse Fittings 1,901,880 43,740 29,160 14,580 14,580 1,968,300 1,968,300 1,968,300 218,700 218,700 218,700 Accumulated Depreciation - Warehouse Fittings Office Equipment Accumulated Depreciation - Office Equipment Accounts Payable Control Interest Payable Utilities Payable Wages Payable Salaries Payable Таx Payable Dividend Payable Mortgage Loan (due 31 Jul 2030) Share Capital 668,250 668,250 668,250 328,050 65,610 393,660 393,660 442,260 442,260 150,219 24,786 442,260 150,219 24,786 150,219 24,786 17,184 141,669 333,261 17,184 141,669 333,261 683,100 2,341,062 17,184 141,669 333,261 683,100 2,341,062 683,100 2,341,062 4,860,000 3,716,442 4,860,000| 3,716,442 4,860,000 Retained Profits 3,716,442 (1 July 2021) Unadjusted Trial Bal. Adjustments Adjusted Trial Bal. Income Balance Sheet Statement Account Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit 2,883,168 265,356 329,265 3,013,200 5,463,612 5,463,612 Cash at Bank 2,883,168 379,566 603,855 3,013,200 2,852,820 2,883,168 114,210 265,356 274,590 329,265 3,013,200 950,940 1,901,880 Accounts Receivable Control Stationery Supplies Inventory Prepaid Showroom Rent Paid 1 Mar. 2022) Prepaid Insurance Paid 1 Nov. 2021) Warehouse Fittings 1,901,880 43,740 29,160 14,580 14,580 1,968,300 1,968,300 1,968,300 218,700 218,700 218,700 Accumulated Depreciation - Warehouse Fittings Office Equipment Accumulated Depreciation - Office Equipment Accounts Payable Control Interest Payable Utilities Payable Wages Payable Salaries Payable Таx Payable Dividend Payable Mortgage Loan (due 31 Jul 2030) Share Capital 668,250 668,250 668,250 328,050 65,610 393,660 393,660 442,260 442,260 150,219 24,786 442,260 150,219 24,786 150,219 24,786 17,184 141,669 333,261 17,184 141,669 333,261 683,100 2,341,062 17,184 141,669 333,261 683,100 2,341,062 683,100 2,341,062 4,860,000 3,716,442 4,860,000| 3,716,442 4,860,000 Retained Profits 3,716,442 (1 July 2021)

Answer rating: 100% (QA)

Income Statement multipleStep For the Year ending June 30 2022 Particulars Sales Revenue Sales Disco... View the full answer