Smart Solutions (Pty) Ltd is an IT solution company working in Sydney CBD. The company is offering end to end IT solutions to both corporate and non-corporate sector.
The company started its operations on 1st July 2015. The company has just hired you as a Junior Accountant. The manager has provided you a list of account balances as on 30 June 2016.
|Accumulated depreciation- Moor vehicle||$24,190|
|Cash at Bank||$12,375|
|Long Term Loan||$145,800|
|Depreciation (Motor Vehicle)||$24,190|
|Motor Vehicle maintenance||$9,360|
Please follow AASB standard (where applicable) to complete the following tasks.
- Prepare an appropriately organised Trial Balance.
- Prepare Closing Entries.
- Prepare a post-closing Trial Balance
- Prepare an Income Statement ended on 30 June 2016 including the Statement of Change in Equity
- Prepare Balance Sheet as on30 June 2016.
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