Genesis has provided the following accounts and their closing balances for the year ended 30 June 2022: Account balance Accounts Payable Accounts Receivable Acc. Dep.- Equipment Advertising Expense Bank Loan (due in August 2022) Capital, 1st July 2021 Cash at Bank Cost of goods sold Depreciation Expense $ 30,000 35,000 17,000 Account balance Drawings Equipment GST Collected 5,400 GST Paid 60,000 PAYG Withheld 166,800 Rent Expense 150,000 Sales Revenue 26,000 Wages Expense 2,000 $ 15,400 93,000 22,000 37,200 2,000 8,000 80,200 6,000 Required: Prepare a classified Statement of Financial Position for Genesis for the year ended 30 June 2022.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Genesis has provided the following accounts and their closing balances for the year
ended 30 June 2022:
Account balance
Accounts Payable
Accounts Receivable
Acc. Dep. Equipment
1
Advertising Expense
Bank Loan (due in August
2022)
Capital, 1st July 2021
Cash at Bank
Cost of goods sold
Depreciation Expense
$
30,000
35,000
17,000
5,400
60,000
Account balance
Drawings
Equipment
GST Collected
GST Paid.
PAYG Withheld
166,800 Rent Expense
150,000 Sales Revenue
26,000 Wages Expense
2,000
$
15,400
93,000
22,000
37,200
2,000
8,000
80,200
6,000
Required:
Prepare a classified Statement of Financial Position for Genesis for the year ended
30 June 2022.
Transcribed Image Text:Genesis has provided the following accounts and their closing balances for the year ended 30 June 2022: Account balance Accounts Payable Accounts Receivable Acc. Dep. Equipment 1 Advertising Expense Bank Loan (due in August 2022) Capital, 1st July 2021 Cash at Bank Cost of goods sold Depreciation Expense $ 30,000 35,000 17,000 5,400 60,000 Account balance Drawings Equipment GST Collected GST Paid. PAYG Withheld 166,800 Rent Expense 150,000 Sales Revenue 26,000 Wages Expense 2,000 $ 15,400 93,000 22,000 37,200 2,000 8,000 80,200 6,000 Required: Prepare a classified Statement of Financial Position for Genesis for the year ended 30 June 2022.
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