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  3. listed below are balances at 30 june 2012. cash at

Listed below are balances at 30 June 2012. Cash at bank 210 000 Inventory...

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Accounting

Listed below are balances at 30 June 2012.

Cash at bank 210 000

Inventory 60 000

Sales 210 000

Wages 40 000

Cost of goods sold 70 000

Share capital 140 000

Accounts payable 30 000

Required:

  1. Classify each account as an asset, liability, revenue, expense, equity.
  2. Prepare an income statement for the period ending 30 June 201
  3. Prepare a balance sheet at 30 June 2012.

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