As at 30 June 2019, the Assets, Liabilities, Equity, Income and Expense amounts for Ronaldo Shop fitters Pty Ltd were listed as follows: Cash in Bank $ 68,400 Accounts receivable $202,800 Supplies 79,200 Equipment 226,800 Accounts payable 101,100 Capital ? Service income 1,158,000 Salary expense 483,000 Prepaid Insurance 24,000 Supplies expense 142,500 Bank loan 30,000 Advertising expense 15,000 Required: Prepare a Balance Sheet in narrative (vertical) format as at 30 June 20 Explain what key information the Balance Sheet provides to users of the financial Prepare a Balance Sheet in narrative (vertical) format as at 30 June 2
As at 30 June 2019, the Assets, Liabilities, Equity, Income and Expense amounts for Ronaldo Shop fitters Pty Ltd were listed as follows:
Cash in Bank $ 68,400
Supplies 79,200 Equipment 226,800
Accounts payable 101,100 Capital ?
Service income 1,158,000 Salary expense 483,000
Prepaid Insurance 24,000 Supplies expense 142,500
Bank loan 30,000
Advertising expense 15,000
Required:
- Prepare a
Balance Sheet in narrative (vertical) format as at 30 June 20 - Explain what key information the Balance Sheet provides to users of the financial
- Prepare a Balance Sheet in narrative (vertical) format as at 30 June 2019.
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