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

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter3: Accrual Accounting

Section: Chapter Questions

Problem 33BE: Brief Exercise 3-33 Preparing an Income Statement The adjusted trial balance of Pelton Company at...

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