The following information relates to YogaGuru for the year ended 30 June 2020. Prepaid rent 14,500 Accounts payable 52,700 Electricity expense 7,500 Unearned...

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Accounting

The following information relates to YogaGuru for the year ended30 June 2020.
Prepaid rent
14,500
Accounts payable
52,700
Electricity expense
7,500
Unearned revenue
11,600
Wages payable
12,500
Accumulated depreciation- Equipment
8,600
Capital
?
Rent expense
32,000
Cash at bank
75,800
Wages expense
135,400
Supplies
3,900
Service revenue
282,600
Bank Loan (due in 2025)
38,000
Accounts receivable
7,500
Drawings
4,000
Equipment
235,200
Depreciation expense-Equipment
8,600
Required: Prepare an Income Statement , a fully classified Balance Sheet in narrative format and a Statement of Changes in Equity for the yearended 30 June 2020 for YogaGuru.
Income Statement:
Fully narrative Balance Sheet:
Statement of Changes in Equity

Answer & Explanation Solved by verified expert

4.0 Ratings (501 Votes)

Answer Income Statement Particulars Amount Revenue Service revenue 282600 Expense Electricity expense 7500 Rent expense 32000 Wages expense 135400 Depreciation expenseEquipment 8600 Net Profit See Answer

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Prepaid rent	14,500
Accounts payable	52,700
Electricity expense	7,500
Unearned revenue	11,600
Wages payable	12,500
Accumulated depreciation- Equipment	8,600
Capital	?
Rent expense	32,000
Cash at bank	75,800
Wages expense	135,400
Supplies	3,900
Service revenue	282,600
Bank Loan (due in 2025)	38,000
Accounts receivable	7,500
Drawings	4,000
Equipment	235,200
Depreciation expense-Equipment	8,600