EXERCISE - 14.4A INCOME STATEMENT & 15.4A-BALANCE SHEET 14.4A Extract an income statement for the year ending 30 June 2019 for G. Graham. The trial balance as at 30 June 2019 after his first year of trading was as follows: Dr Cr £ Equipment rental Insurance Lighting and heating expenses Motor expenses Salaries and wages Sales Purchases Sundry expenses Lorry Accounts payable Accounts receivable 940 1,804 1,990 2,350 48,580 382,420 245,950 624 19,400 23,408 44,516 4,600 174,000 11,346 44,000 Fixtures Shop Cash at bank Drawings Capital 194,272 600, 100 600,100 Inventory at 30 June 2019 was £29,304. (Keep your answer; it will be used later in Review Question 15.4A.) REQUIRED: 1. Prepare Balance Sheet as at 30 June 2019

EXERCISE - 14.4A INCOME STATEMENT & 15.4A-BALANCE SHEET 14.4A Extract an income statement for the year ending 30 June 2019 for G. Graham. The trial balance as at 30 June 2019 after his first year of trading was as follows: Dr Cr £ Equipment rental Insurance Lighting and heating expenses Motor expenses Salaries and wages Sales Purchases Sundry expenses Lorry Accounts payable Accounts receivable 940 1,804 1,990 2,350 48,580 382,420 245,950 624 19,400 23,408 44,516 4,600 174,000 11,346 44,000 Fixtures Shop Cash at bank Drawings Capital 194,272 600, 100 600,100 Inventory at 30 June 2019 was £29,304. (Keep your answer; it will be used later in Review Question 15.4A.) REQUIRED: 1. Prepare Balance Sheet as at 30 June 2019

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

EXERCISE - 14.4A INCOME STATEMENT & 15.4A-BALANCE SHEET
14.4A
Extract an income statement for the year ending 30 June 2019 for G. Graham. The trial
balance as at 30 June 2019 after his first year of trading was as follows:
Dr
Cr
£
Equipment rental
Insurance
Lighting and heating expenses
Motor expenses
Salaries and wages
Sales
Purchases
Sundry expenses
Lorry
Accounts payable
Accounts receivable
940
1,804
1,990
2,350
48,580
382,420
245,950
624
19,400
23,408
44,516
4,600
174,000
11,346
44,000
Fixtures
Shop
Cash at bank
Drawings
Capital
194,272
600,100
600,100
Inventory at 30 June 2019 was £29,304.
(Keep your answer; it will be used later in Review Question 15.4A.)
REQUIRED:
1. Prepare Balance Sheet as at 30 June 2019

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