Hi, I need help with this . I am not sure if my answer is the right one. Thanks Required:a) Prepare a Statement of Profit & Loss and Statement of Financial Position.b) Prepare a Statement of Cash Flow. Task 2:Lucky House LtdTrial BalanceAs at 30 September 2020AccountDebitCreditCash at Bank5,850Capital Account15,000Machine8,100Raw Materials2,655StationeryAccounts Payable2506,545Rent950Business Insurance38Prepayments1,362Sales Income17,550Cost of Goods Sold11,345Accounts Receivable4,500DrawingsTelephone4,00045DepreciationAccumulated Depreciation135135Total39,23039,230

Lucky House Ltd Trading & Profit and loss Account for the year ended 30th September…

Answered: Required: a) Prepare a Statement of…

Required: a) Prepare a Statement of Profit & Loss and Statement of Financial Position. 5) Prepare a Statement of Cash Flow.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 3MC

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