Question one From the information provided in the following trial balance, prepare the statement of financial performance and the statement of financial position for the company for the period ending 30 June 2023. Include comparative information for 30 June 2022. Include appropriate headings and subtotals. Crystal Limited Trial Balance for the year ended 30 June 2023 Cost of sales Advertising costs Sales' wages Depreciation on sales vehicles Other selling and administrative expenses Office salaries Depreciation on office equipment and buildings Other office and administrative expenses Interest expenditure Income tax expense Cash Marketable securities Accounts receivable Inventory Property, plant, and equipment Interest revenue Dividend revenue Sales Accounts payable Income taxes payable Notes payable Share capital ($5 per share) Retained earnings 2023 Dr 1,005,500 13,600 140,250 44,390 2,360 260,000 27,450 18,770 18,000 86,700 64,900 100,000 150,000 200,000 625,300 Cr 570 250 1,818,500 150,000 43,500 210000 450,000 84,400 2022 Dr 996,000 14,700 137,500 37,000 1,450 256,400 14,380 18,340 19,000 77,000 64,200 50,000 102,800 115,500 520,300 Cr 530 240 1,750,500 145,400 42,000 200000 300,000 (14,100)

Question one From the information provided in the following trial balance, prepare the statement of financial performance and the statement of financial position for the company for the period ending 30 June 2023. Include comparative information for 30 June 2022. Include appropriate headings and subtotals. Crystal Limited Trial Balance for the year ended 30 June 2023 Cost of sales Advertising costs Sales' wages Depreciation on sales vehicles Other selling and administrative expenses Office salaries Depreciation on office equipment and buildings Other office and administrative expenses Interest expenditure Income tax expense Cash Marketable securities Accounts receivable Inventory Property, plant, and equipment Interest revenue Dividend revenue Sales Accounts payable Income taxes payable Notes payable Share capital ($5 per share) Retained earnings 2023 Dr 1,005,500 13,600 140,250 44,390 2,360 260,000 27,450 18,770 18,000 86,700 64,900 100,000 150,000 200,000 625,300 Cr 570 250 1,818,500 150,000 43,500 210000 450,000 84,400 2022 Dr 996,000 14,700 137,500 37,000 1,450 256,400 14,380 18,340 19,000 77,000 64,200 50,000 102,800 115,500 520,300 Cr 530 240 1,750,500 145,400 42,000 200000 300,000 (14,100)

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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