Using this data sheet analyse and transform the financial data into financial statements. Proprietor: Name: Ms. Nicole Coffeur Teenage Style

         Using this data sheet analyse and transform the financial data into financial statements.

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Proprietor: Name: Ms. Nicole Coffeur Teenage Style Bag Description: Hair and Beauty Salon The business has the following opening balances: Cash At Bank Account Receivable Motor Vehicle Account Payable Bank Loan (due 2022) Hair Styling Equipment Hair Styling Supplies Capital Transactions: Date Description 1-Jun Facial services fees - Cash 1-Jun Paid General Insurance 3-Jun Advertising Expense - Cash 4-Jun Receive Payment from Account Customers 7-Jun Payment to Account Payable 10-Jun Hair styling fees - Cash 14-Jun Hair styling fees - Account 18-Jun Purchase books and magazines 19-Jun Manicure services - Cash 22-Jun Manicure services - Account 23-Jun Advertising Expense - Account 26-Jun Hair styling fees - Account 28-Jun Motor Vehicle Expenses 29-Jun Staff Wages $16,172 $21,784 $36,255 $7,928 $24,327 $18,918. $769 ? Amount $1,390 $2,244 $814 $1,445 $1,197 $1,262 $1,540 $100 $990 $1,314 $1,091 $1,825 $237 $2,615 Additional Information: Bank loan interest rates (% per year) Motor vehicle useful life (years) Motor vehicle scrap value (S) Insurance paid for (months) Rent paid for (months) Hair styling equipment useful life (years) Hair styling equipment scrap value (S) Closing stock of hair styling supplies on 30/6 ($) Staff work a 14 day fortnight and are paid on the 15th day. Date Description 1-Jun Facial services fees - Cash 2-Jun Purchase hair styling supplies - account 3-Jun Rent of Business Premises 6-Jun Sundry Expenses 7-Jun Manicure services - Account 12-Jun Receive Payment from Account Customers 15-Jun Staff Wages 19-Jun Facial services fees - Cash 20-Jun Cash Withdrawals by Owner 22-Jun Manicure services - Cash 24-Jun Hair styling fees - Cash 26-Jun Additional cash contributed by owner 29-Jun Payment to Account Payable Comments: - Assume that this assignment involves an existing business that was purchased by the new owner on 1 June 2019. - Note the list of transactions is in date order, left to right, line by line. - Use three separate ledger accounts for revenue, namely hair styling services, manicure services and facial services. All revenues relate to the month of June. - Transactions involve cash unless specified as "Account'. - Record payments for rent and insurance in prepaid accounts initially. - Information relevant to complete adjusting entries can be found in the top right section of this page. - The periods to which the rent and insurance apply commence on 1 June. - Round your calculations to the nearest dollar. 2425 4,030 2 3,704 516 Amount $1,326 $843 $3,892 $555 $1,179 $1,049 $2,615 $1,533 $949 $804 $1,443 $3,370 $970

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