Professional Documents
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Name: - Class: - Date: - Mark: - /12
Name: - Class: - Date: - Mark: - /12
Name: - Class: - Date: - Mark: - /12
Required: Prepare for Anson's business an income statement for the year ended 30 June 2023 and a
statement of financial position as at 30 June 2023.
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Answer
Anson
Income Statement for the year ended 30 June 2023
$ $
Service income 12,495 0.5
Add Other Revenues:
Rental income 5,600 0.5
Dividend income 1,120 6,720 0.5
19,215 0.5
Less Expenses:
Salaries 5,000 0.5
Commission expenses 20,231 0.5
Electricity 1,230 0.5
Insurance charges 800 27,261 0.5
Net loss (8,046) 1
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Anson
Statement of financial position as at 30 June 2023
$ $
Non-current assets
Equipment 35,223 0.5
Furniture 17,890 53,113 0.5
Current assets
Inventory 5,000 0.5
Accounts receivable 3,456 0.5
Cash at bank 4,245 0.5
Cash in hand 3,840 16,541 0.5
Total Assets 69,654 0.5
Financed by:
Capital
Balance as at 1 July 2022 24,000 0.5
Less Net loss for the year (8,046) 0.5
15,954 0.5
Non-current liabilities
Loan from Jeremy (2030) 45,200 0.5
Current liabilities
Loan from bank (2023 December) 8,500 0.5