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From the following account balances to 30 June 2020 prepare a statement of financial position in...

From the following account balances to 30 June 2020 prepare a statement of financial position in the narrative classified format.

Note: you will need to determine the balance of the retained earnings.   

Type of Account

                                $

Accounts Receivable  

                           46500

Provisions  

                           50000

Prepayments

                             1200

Sales Revenue  

                         455000

Plant and Equipment  

                         220000

Other Current Assets  

                           11000

Borrowings  

                         120000

Interest on Borrowings E

                             6000

Accumulated Depreciation

                           48500

Accounts Payable  

                           26000

Share Capital  

                         450000

Land and Buildings  

                         339000

Inventory  

                           78000

Two Year Term Deposit  

                           98500

Cash at Bank  

                           32000

Retained Earnings

                               ?

Salaries expense  

                         215000

Salaries Accrued

                           12500

Insurance Expense

                             9000

Annual Depreciation  

                           22000

Utilities Expense

                             8500

Selling Expenses

                           25000

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ekkarill92 answered 1 year ago
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