the following account balances prepared on an accrual basis relate to game zone ltd 4375329

The following account balances, prepared on an accrual basis, relate to Game Zone Ltd for the year ended at 30 June 2013. Additional information at 30 June 2013: • Salaries of $98 000 above do not include an amount of $3000 owing to employee’s for the last week of June 2013. • Repairs and maintenance of $37 000 above includes an amount of $4000 paid in advance for work to be completed in July 2013. • $20 000 depreciation is to be charged on equipment for the year. Required: a) Prepare an income statement for Game Zone Ltd for the year ending 30 June 2013. b) Prepare a classified balance sheet for Game Zone Ltd at 30 June 2013. View Solution:
The following account balances prepared on an accrual basis relate

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