2020 BGSS 3E POA EOY P2 Q1
1 The following trial balance was extracted from the books of Just Play Store on 30 September 2020.
Debit $ | Credit $ | ||
158 000 | |||
13 950 | |||
93 250 | |||
Cash at bank | 5 400 | ||
Trade receivables | 11 800 | ||
Trade payables | 19 200 | ||
50 930 | |||
Bank loan (repayable 2024) |
| 50 000 | |
Office equipment | 12 100 | ||
Motor vehicles | 69 000 | ||
Interest expense | 2 600 | ||
Commission income | 10 810 | ||
910 | |||
1 800 | |||
Rent expense | 45 000 | ||
5 050 | |||
Capital, 1 October 2019 |
| 70 180 | |
309 990 | 309 990 |
Additional information:
1. The owner took out an office computer costing $2 100 for his son. This has not been recorded yet.
2. The net realisable value of the inventory was $47 930.
3. Interest expense of $200 was unpaid.
4. Commission income of $1 610 was received in advance.
REQUIRED
a. Prepare the statement of financial performance for the year ended 30 September 2020.
[10]
b. Prepare the statement of financial position as at 30 September 2020.
[10]
[TOTAL 20]