Preparing Financial Reports - PDF

Added on - 21 Apr 2020

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Running head: PREPARE FINANCIAL REPORTSPrepare Financial Reports (Assessment 2)Name of the Student:Name of the University:Author’s Note:Course ID:
PREPARE FINANCIAL REPORTSTable of ContentsAnswer to Question 1:.......................................................................................................2Answer to Question 2:.......................................................................................................3Answer to Question 3:.......................................................................................................4Answer to Question 4:.......................................................................................................5Answer to Question 5:.......................................................................................................6Bibliographies:...................................................................................................................8Student Name:Student Number:1
PREPARE FINANCIAL REPORTSAnswer to Question 1:In the Books of Smart Solutions Private LimitedTrial Balancefor the year ended 30 June 2016Account NamesDebit AmountCredit AmountSales$120,729Electricity$1,100Accounts Receivable$350Land$247,000Wages$49,000Advertising$625Accumulated Depreciation-Building$750Accumulated depreciation- MotorVehicle$24,190Building$450,000Cash at Bank$12,375GST Paid$395GST Payable$3,096Accounts Payable$1,580Long-Term Loan$145,800Motor Vehicle$96,750Telephone$1,250Depreciation (Building)$750Depreciation (Motor Vehicle)$24,190Motor Vehicle Maintenance$9,360Capital$600,000Drawings$3,000Total$ 896,145$ 896,145Answer to Question 2:In the Books of Smart Solutions Private LimitedClosing Entriesfor the period ended 30 June 2016DateParticularsDebit Amount (inCredit Amount (inStudent Name:Student Number:2
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