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$120,729 Electricity$1,100 Accounts Receivable$350 Land$247,000 Wages$49,000 Advertising$625 Accumulated Depreciation-Building$750 Accumulated depreciation- Motor Vehicle$24,190 Building$450,000 Cash at Bank$12,375 GST Paid$395 GST Payable$3,096 Accounts Payable$1,580 Long-Term Loan$145,800 Motor Vehicle$96,750 Telephone$1,250 Depreciation (Building)$750 Depreciation (Motor Vehicle)$24,190 Motor Vehicle Maintenance$9,360 Capital$600,000 Drawings$3,000 Total $ 896,145 $ 896,145 Answer to Question 2:In the Books of Smart Solutions Private LimitedClosing Entriesfor the period ended 30 June 2016DateParticularsDebit Amount (in Credit Amount (in Student Name:Student Number:2
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