i) ii) Tina owns a retail business called Tina Trading. The following balances were extracted from her books on 30 June 2020: (a) Capital, 1 July 2019 Fixtures and fittings at cost Motor vehicles at cost Accumulated depreciation (b) Fixtures and fittings Motor vehicles Additional information: Trade receivables Trade payables Cost of sales Sales revenue Motor expenses Insurance Allowance for impairment of trade receivables Interest Income Wages and Salaries Drawings Cash at bank Inventory Rent Bank loan REQUIRED pho solution $ 20 000 8 000 15 000 2 000 1 500 7 000 4 150 30 840 90 800 630 6 000 350 3 800 20 500 1 400 920 7 310 30 000 5 000 During 2020, Tina withdrew goods valued at $400 from the business for private use. No entry had been made in the books for the withdrawal of these goods. Owner contributes $20 000 into the business bank account. CESTUDER Prepare the statement of financial performance for the year ended 30 June 2020. Prepare the statement of financial position as at 30 June 2020.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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4
i)
ii)
Tina owns a retail business called Tina Trading. The following balances were
extracted from her books on 30 June 2020:
(a)
(b)
Capital, 1 July 2019
Fixtures and fittings at cost
Motor vehicles at cost
Accumulated depreciation
Fixtures and fittings
Motor vehicles
Additional information:
Trade receivables
Trade payables
Cost of sales
Sales revenue
Motor expenses
Insurance
Allowance for impairment of trade receivables
Interest Income
Wages and Salaries
Drawings
Cash at bank
Inventory
Rent
Bank loan
REQUIRED
ans
$
20 000
8 000
15 000
2 000
1 500
7 000
4 150
30 840
90 800
630
6 000
350
3 800
20 500
1 400
920
7 310
30 000
5 000
During 2020, Tina withdrew goods valued at $400 from the business for
private use. No entry had been made in the books for the withdrawal of
these goods.
Owner contributes $20 000 into the business bank account.
Prepare the statement of financial performance for the year ended 30
June 2020.
Prepare the statement of financial position as at 30 June 2020.
Transcribed Image Text:4 i) ii) Tina owns a retail business called Tina Trading. The following balances were extracted from her books on 30 June 2020: (a) (b) Capital, 1 July 2019 Fixtures and fittings at cost Motor vehicles at cost Accumulated depreciation Fixtures and fittings Motor vehicles Additional information: Trade receivables Trade payables Cost of sales Sales revenue Motor expenses Insurance Allowance for impairment of trade receivables Interest Income Wages and Salaries Drawings Cash at bank Inventory Rent Bank loan REQUIRED ans $ 20 000 8 000 15 000 2 000 1 500 7 000 4 150 30 840 90 800 630 6 000 350 3 800 20 500 1 400 920 7 310 30 000 5 000 During 2020, Tina withdrew goods valued at $400 from the business for private use. No entry had been made in the books for the withdrawal of these goods. Owner contributes $20 000 into the business bank account. Prepare the statement of financial performance for the year ended 30 June 2020. Prepare the statement of financial position as at 30 June 2020.
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