Michael don ownd an eqiupment hire business under the name safety hure. Financial data for safety hire as of 30 june 2019 are as shown below Account receivable 73000 Wages expense 78000 Equipment hire income 200000 Adversing expense 32000 Prepaid insurance 9000 Account payable 88000 Insurance expense 7000 Cash at bank 48000 Equipment 190000 Michael don, capital ? Required: A) prepare an income statement for the business for the year ending 30 Th june 2019 B) prepare a balance sheet in narrative format for safety hire as at 30 june 2019 C) prepare a statement of changes in equity for the year and determine Michael don's capital at 30 june 2018
Michael don ownd an eqiupment hire business under the name safety hure. Financial data for safety hire as of 30 june 2019 are as shown below Account receivable 73000 Wages expense 78000 Equipment hire income 200000 Adversing expense 32000 Prepaid insurance 9000 Account payable 88000 Insurance expense 7000 Cash at bank 48000 Equipment 190000 Michael don, capital ? Required: A) prepare an income statement for the business for the year ending 30 Th june 2019 B) prepare a balance sheet in narrative format for safety hire as at 30 june 2019 C) prepare a statement of changes in equity for the year and determine Michael don's capital at 30 june 2018
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Michael don ownd an eqiupment hire business under the name safety hure. Financial data for safety hire as of 30 june 2019 are as shown below
Wages expense 78000
Equipment hire income 200000
Adversing expense 32000
Prepaid insurance 9000
Account payable 88000
Insurance expense 7000
Cash at bank 48000
Equipment 190000
Michael don, capital ?
Required:
A) prepare an income statement for the business for the year ending 30 Th june 2019
B) prepare a
C) prepare a statement of changes in equity for the year and determine Michael don's capital at 30 june 2018
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