The following Trial Balance was extracted from the books of the Hopeful Ltd on 31...
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Accounting
The following Trial Balance was extracted from the books of the Hopeful Ltd on 31 March 20x5. Adjustments required on the above Trial Balance: a. The use of supplies at $1,500 for sale. b. Insurance expense incurred in March at $50. c. Depreciation expense incurred in March of $40. d. Unearned revenue was reduced by $400 because service was performed in March. e. Service performed on credit at $200. f. Interest expense at $50 incurred on credit. g. Salaries and wages expenses at $1,200 but not yet paid. Prepare the following for Hopeful Ltd (a) The Statement of Comprehensive Income for year ended 31 March 20x5 (16%) (b) The Statement of Financial Position as at 31 March 20x5, showing the working capital in the Statement. (24%)
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