Question 1 Preparing Financial Statements Financial data for Safety Hire as of 30 June 2019 are:
$ 63000
170000
40 000
Accounts receivable
Equipment hire income
Accounts payable
Michael Donato, capital
Cash at bank
Mortgage payable
Building
$ 75000
30000
75 000
Wages expense
Advertising expense
Land
Hire equipment
Loan payable
Electricity expense
Telephone expense
45000
130 000
85000
50000
18000
7500
Required:
Prepare an income statement for the month of June and a balance sheet in account format
for Safety Hire as at 30 June 2019.
in
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