Trial Balance of Club way Holidays on 28 February 2023 Trial Balance Balance sheet section Capital...

  

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Trial Balance of Club way Holidays on 28 February 2023 Trial Balance Balance sheet section Capital Drawings Land and buildings Equipment Fixed deposit: ABC Bank Trading inventory Bank Petty cash Vehicles Machinery Debtors control Creditors control Mortgage Loan: ODI investments VAT control Nominal accounts section Sales Folio B1 B2 B3 B4 B5 B6 B7 B8 B9 B10 B11 B12 B13 B14 N1 Debit 72 400 700 000 150 000 75 000 38 500 1750 320 000 400 000 84 210 1.000 Credit 1 367 583 12 060 41 980 479 000 715 600 Sales returns Cost of sales Settlement discount received Interest on fixed deposit N2 N3 N4 N5 25 600 461 000 780 7 500 Rates and taxes Interest on mortgage loan Wages and salaries Telephone Stationery Staff welfare Repairs and maintenance Fuel Insurance Credit losses Credit losses recovered General expenses N6 |N7 N8 N9 N10 N11 N12 N13 N14 N15 N16 N17 4 803 5 260 177 190 14 880 4 900 5 680 9 200 21 940 22 200 20 500 11 990 2 628 003 Club way Holidays Pty (Ltd) is a company that specializes in the booking and managing of luxury family holidays. You work in the accounting department and have been tasked to prepare the financial statements for the period ending 28 February 2023. The above trial balance has been presented to you for the period. REQUIRED: With reference to the list of balances above, you are required to prepare the following financial statements of Club way Holidays Pty (Ltd) for the reporting period ended 28 February 2023. 1.1 Statement of Comprehensive income 1.2 Statement of Financial Position Note: Ignore VAT Comparatives are not required. 3 500 2 628 003 (10 Marks) (10 Marks) Trial Balance of Club way Holidays on 28 February 2023 Trial Balance Balance sheet section Capital Drawings Land and buildings Equipment Fixed deposit: ABC Bank Trading inventory Bank Petty cash Vehicles Machinery Debtors control Creditors control Mortgage Loan: ODI investments VAT control Nominal accounts section Sales Folio B1 B2 B3 B4 B5 B6 B7 B8 B9 B10 B11 B12 B13 B14 N1 Debit 72 400 700 000 150 000 75 000 38 500 1750 320 000 400 000 84 210 1.000 Credit 1 367 583 12 060 41 980 479 000 715 600 Sales returns Cost of sales Settlement discount received Interest on fixed deposit N2 N3 N4 N5 25 600 461 000 780 7 500 Rates and taxes Interest on mortgage loan Wages and salaries Telephone Stationery Staff welfare Repairs and maintenance Fuel Insurance Credit losses Credit losses recovered General expenses N6 |N7 N8 N9 N10 N11 N12 N13 N14 N15 N16 N17 4 803 5 260 177 190 14 880 4 900 5 680 9 200 21 940 22 200 20 500 11 990 2 628 003 Club way Holidays Pty (Ltd) is a company that specializes in the booking and managing of luxury family holidays. You work in the accounting department and have been tasked to prepare the financial statements for the period ending 28 February 2023. The above trial balance has been presented to you for the period. REQUIRED: With reference to the list of balances above, you are required to prepare the following financial statements of Club way Holidays Pty (Ltd) for the reporting period ended 28 February 2023. 1.1 Statement of Comprehensive income 1.2 Statement of Financial Position Note: Ignore VAT Comparatives are not required. 3 500 2 628 003 (10 Marks) (10 Marks)

Answer rating: 100% (QA)

1 Statement of Comprehensive Income Net Sales NetSales Sales SalesReturns Net Sales 715600 25600 Net sales 690000 Gross Profit GrossProfit NetSales Co... View the full answer