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Identify the expenses and assets

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Reference no: EM132553616

The trial balance of Bronze Meadow Ltd on 31 March 2020 is shown below.

Administrative expenses (including depreciation) 36,000

Rent paid 12,000

Motor vehicle expenses 21,000

Salaries 106,800

Insurance 12,000

Cost of goods sold 489,000

Sales revenue 804,000

Motor vehicles (net book value) 84,000

Accounts payable 102,000

Accounts receivable 122,700

Buildings at valuation 600,000

Cash at bank 42,000

Share capital 720,000

Closing inventories 31 March 2020 90,000

Tax payable 60,000

Tax charge (income statement) 60,000

Selling and distribution costs 40,500

Question (i) Identify the expenses and assets (debit balances) and income, liabilities, and equity (credit balances), and confirm that the trial balance is in balance.

Question (ii) income statement for Bronze Meadow Ltd for the year ended 31 March 2020.

Question (iii) a balance sheet for Bronze Meadow Ltd as at 31 March 2020.

Reference no: EM132553616

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