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Students Name: George Lalis (18994227) Date:

22/04/2020

Tutorial Day & Time: Wednesday 22nd April, 2020 // 2:30pm – 4:30pm

Worksheet

a.
Accounts Office Accounts Profit
Date Cash ($) Capital
Receivable Equipment Payable or Loss
1 15,000 15,000
4 1,200 1,200
5 500 500
6 (400) (400)
7 No transaction
8 2,000 2,000
9 500 500
10 3,400 3,400
15 (65) (65)
16 4,800 4,800
16 (231) (231)
23 250 250
28 (3,400) (3,400)
30 (200) (200)
Total 13,454 5,300 4,600 1,200 17,000 5,154

c.
Statement of profit or loss

Income
Services rendered 500
Billed client 500
Sent quote 4,800
Consultation work 250
6,050
Expenses
Rent expense 400
Telephone expense 65
Gas expense 231
Advertising expense 200
896
Profit $5,154

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Statement of financial position

ASSETS
Current assets
Cash 13,454
Accounts receivable 5,300 18,754
Non-current assets
Office equipment 4,600
Total assets 23,354
LIABILITIES
Current liabilities
Accounts payable 1,200
Total liabilities 1,200
Net assets $22,154
OWNER’S EQUITY
Capital 17,000
Profit 5,154
Total equity $22,154

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