
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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A list of account balances for “Amara Inc” as at the 30th June 2020 is shown below.
Account name |
$ |
Cash |
18,700 |
Equipment |
29,000 |
|
14,000 |
Accounts payable |
11,200 |
Capital (1 July 2019) |
9,500 |
|
8,200 |
Dividend paid |
25,000 |
Additional information:
Net profit after tax for the year ended 30 June 2020 was $29,800
Required:
- Prepare the statement of changes in Owners’ Equity for the year ended 30th June 2020
- Prepare a fully classified
balance sheet as at 30th June 2020.
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