FNS40217 Certificate IV in Accounting and Bookkeeping - Module 1.1 Tutoring

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Question. 21

You are provided with the following Trial Balance at 30 June 2019 for Maloney Co. This company uses the perpetual inventory system.

Required:

  1. Prepare a Ten Column Worksheet.
  2. Prepare the Income Statement for the year ended 30 June 2019.
  3. Prepare the Balance Sheet as at 30 June 2019.
  4. What checks have you undertaken to ensure that the Income Statement and the Balance Sheet are correct?
  5. What steps would you undertake if you believe the Income Statement or the Balance Sheet are not correct, or if the Balance Sheet does not balance?

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