1. Business
  2. Accounting
  3. prepare a classified balance sheet as at 30 june 2016...

Question: prepare a classified balance sheet as at 30 june 2016...

Question details

Ruler of the World provided the following list of account balances at 30 June 2016 Mortgage (due 30 June 2019) Accounts Payable Accounts Receivable Accrued Wages Accumulated Depreciation - Motor Vehicles Accumulated Depreciation - Furniture& Equipment Allowance for Doubtful Debts Bank Overdraft Capital Drawings GST Collected (Payable) Interest Income Accrued Inventory Land & Buildings Loan to employee (due to be repaid in July 2016) Motor Vehicles Furniture & Equipment Prepaid Insurance Profit & Loss (Loss for the year) $150,000 16,780 34,220 1,750 43,000 29,000 6,400 12,670 350,170 38,000 8,450 1,200 18,700 340,000 3,000 103,000 67,000 500 12,600 Required: Prepare a classified Balance Sheet as at 30 June 2016. All adjusting and closing entries have been made with the exception of the transfer from the Profit and Loss account for the year

prepare a classified balance sheet as at 30 June 2016.
all adjusting and closing entries have been made with exception of the transfer from the profit and loss account for the year.

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution