The following accounts are extracted from XYZ Pty Ltd at 30/06/2018. Account Balance $ Cash 14200 Accounts receivable 47560 Prepaid insurance 1240 Prepaid rent 960 Offic
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Get it written →The following accounts are extracted from XYZ Pty Ltd at 30/06/2018.
Account Balance $
Cash 14200
Accounts receivable 47560
Prepaid insurance 1240
Prepaid rent 960
Office equipment 39480
Accumulated depreciation 8060
Accounts payable 7840
Salary payable 1100
Unearned service revenue 3340
Capital 79020
Drawings 10700
Service revenue 33640
Salary expense 8700
Rent expenses 3600
Depreciation expense 800
Advertising expense 4360
Supplies expense 1400
Required:
Prepare the Statement of Financial Performance (Income Statement) for the period ended 30 June 2018. [6 marks]
Prepare the Statement of Financial Position (Balance Sheet) as at 30 June 2018. [10 marks]
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