题目

MCD1010 - T3 - 2024 Solar Unit - Classified Balance Sheet.

多项填空题

Question textSOLAR UNITS sell solar energy supplies. The business prepares reports annually on 30 June. TRIAL BALANCE AS AT 30 JUNE [table] | DEBIT | CREDIT | $ | $ Bank | 17,200 | Capital | | 436,960 Accounts Payable | | 40,600 Drawings | 62,800 | Premises | 409,700 | Stock of Stationery | 1,675 | Accounts Receivable | 34,500 | Sales Returns and Allowances | 8,700 | Salaries Payable | | 5,400 Sales | | 281,730 Discount Income | | 4,000 Cost of Sales | 132,280 | Loan ABC Bank – due in 5 years | | 67,500 Inventory | 42,250 | Salaries Expense | 69,000 | Discount Expense | 4,200 | Stationery Expense | 2,785 | Depreciation Expense | 8,400 | Miscellaneous Expenses | 31,500 | Delivery Truck | 28,000 | Accumulated Depreciation of Delivery Truck | | 16,800 | 852,990 | 852,990 [/table] Required:Prepare a Classified Balance Sheet for SOLAR UNITS at 30 June. NOTE: You should classify all assets and liabilities into current and non-current. Please record all accounts according to the trial balance order) SOLAR UNITS BALANCE SHEET AS AT 30 June [table] | $ | $ | | $ | $ ASSETS | | | LIABILITIES | | Answer 1 Question 1 Current AssetsNon-Current AssetsCurrent LiabilitiesNon-Current LiabilitiesOwner’s Equity | | | Answer 2 Question 1 Current AssetsNon-Current AssetsCurrent LiabilitiesNon-Current LiabilitiesOwner’s Equity | | Answer 3 Question 1 BankCapitalAccounts PayableDrawingsPremisesStock of StationaryAccounts ReceivableSales Return & AllowancesSalary PayableSalesDiscount IncomeCost of SalesLoan from ABC BankInventorySalary ExpenseDiscount ExpensesStationary ExpenseDepreciation ExpenseMiscellaneous ExpensesDelivery TruckAccumulated Depreciation of Delivery Truck | Answer 4 Question 1 | | Answer 5 Question 1 BankCapitalAccounts PayableDrawingsPremisesStock of StationaryAccounts ReceivableSales Return & AllowancesSalary PayableSalesDiscount IncomeCost of SalesLoan from ABC BankInventorySalary ExpenseDiscount ExpensesStationary ExpenseDepreciation ExpenseMiscellaneous ExpensesDelivery TruckAccumulated Depreciation of Delivery Truck | Answer 6 Question 1 | Answer 7 Question 1 BankCapitalAccounts PayableDrawingsPremisesStock of StationaryAccounts ReceivableSales Return & AllowancesSalary PayableSalesDiscount IncomeCost of SalesLoan from ABC BankInventorySalary ExpenseDiscount ExpensesStationary ExpenseDepreciation ExpenseMiscellaneous ExpensesWWrongDelivery TruckAccumulated Depreciation of Delivery Truck | Answer 8 Question 1 | | Answer 9 Question 1 BankCapitalAccounts PayableDrawingsPremisesStock of StationaryAccounts ReceivableSales Return & AllowancesSalary PayableSalesDiscount IncomeCost of SalesLoan from ABC BankInventorySalary ExpenseDiscount ExpensesStationary ExpenseDepreciation ExpenseMiscellaneous ExpensesDelivery TruckAccumulated Depreciation of Delivery Truck | Answer 10 Question 1 | Answer 11 Question 1 BankCapitalAccounts PayableDrawingsPremisesStock of StationaryAccounts ReceivableSales Return & AllowancesSalary PayableSalesDiscount IncomeCost of SalesLoan from ABC BankInventorySalary ExpenseDiscount ExpensesStationary ExpenseDepreciation ExpenseMiscellaneous ExpensesWWrongDelivery TruckAccumulated Depreciation of Delivery Truck | Answer 12 Question 1 | | Total Current Liabilities | | Answer 13 Question 1 Answer 14 Question 1 BankCapitalAccounts PayableDrawingsPremisesStock of StationaryAccounts ReceivableSales Return & AllowancesSalary PayableSalesDiscount IncomeCost of SalesLoan from ABC BankInventorySalary ExpenseDiscount ExpensesStationary ExpenseDepreciation ExpenseMiscellaneous ExpensesWWrongDelivery TruckAccumulated Depreciation of Delivery Truck | Answer 15 Question 1 | | Answer 16 Question 1 Current AssetsNon-Current AssetsCurrent LiabilitiesNon-Current LiabilitiesOwner’s Equity | | Total Current Assets | | Answer 17 Question 1 | Answer 18 Question 1 BankCapitalAccounts PayableDrawingsPremisesStock of StationaryAccounts ReceivableSales Return & AllowancesSalary PayableSalesDiscount IncomeCost of SalesLoan from ABC BankInventorySalary ExpenseDiscount ExpensesStationary ExpenseDepreciation ExpenseMiscellaneous ExpensesDelivery TruckAccumulated Depreciation of Delivery Truck | | Answer 19 Question 1 Answer 20 Question 1 Current AssetsNon-Current AssetsCurrent LiabilitiesNon-Current LiabilitiesOwner’s Equity | | | Total Liabilities | | Answer 21 Question 1 Answer 22 Question 1 BankCapitalAccounts PayableDrawingsPremisesStock of StationaryAccounts ReceivableSales Return & AllowancesSalary PayableSalesDiscount IncomeCost of SalesLoan from ABC BankInventorySalary ExpenseDiscount ExpensesStationary ExpenseDepreciation ExpenseMiscellaneous ExpensesWWrongDelivery TruckAccumulated Depreciation of Delivery Truck | | Answer 23 Question 1 | Answer 24 Question 1 Current AssetsNon-Current AssetsCurrent LiabilitiesNon-Current LiabilitiesOwner’s Equity | | Answer 25 Question 1 BankCapitalAccounts PayableDrawingsPremisesStock of StationaryAccounts ReceivableSales Return & AllowancesSalary PayableSalesDiscount IncomeCost of SalesLoan from ABC BankInventorySalary ExpenseDiscount ExpensesStationary ExpenseDepreciation ExpenseMiscellaneous ExpensesWWrongDelivery TruckAccumulated Depreciation of Delivery Truck | Answer 26 Question 1 | | Answer 27 Question 1 BankCapitalAccounts PayableDrawingsPremisesStock of StationaryAccounts ReceivableSales Return & AllowancesSalary PayableSalesDiscount IncomeCost of SalesLoan from ABC BankInventorySalary ExpenseDiscount ExpensesStationary ExpenseDepreciation ExpenseMiscellaneous ExpensesDelivery TruckAccumulated Depreciation of Delivery Truck | Answer 28 Question 1 | Less Answer 29 Question 1 BankCapitalAccounts PayableDrawingsPremisesStock of StationaryAccounts ReceivableSales Return & AllowancesSalary PayableSalesDiscount IncomeCost of SalesLoan from ABC BankInventorySalary ExpenseDiscount ExpensesStationary ExpenseDepreciation ExpenseMiscellaneous ExpensesWWrongDelivery TruckAccumulated Depreciation of Delivery Truck | Answer 30 Question 1 | Answer 31 Question 1 | Add: Profit | 28,865 | | | | LessAnswer 32 Question 1 BankCapitalAccounts PayableDrawingsPremisesStock of StationaryAccounts ReceivableSales Return & AllowancesSalary PayableSalesDiscount IncomeCost of SalesLoan from ABC BankInventorySalary ExpenseDiscount ExpensesStationary ExpenseDepreciation ExpenseMiscellaneous ExpensesDelivery TruckAccumulated Depreciation of Delivery Truck | Answer 33 Question 1 | Answer 34 Question 1 Answer 35 Question 1 Total AssetsTotal Liabilities and Equity | | Answer 36 Question 1 | Answer 37 Question 1 Total AssetsTotal Liabilities and Equity | | Answer 38 Question 1 [/table]

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We are asked to prepare a Classified Balance Sheet for Solar Units as at 30 June, classifying assets and liabilities into current and non-current, and to record accounts in the trial balance order. Below I will evaluate each proposed answer option in turn, explaining why each option is not appropriate or why it misclassifies or misstates the figures, before we could infer the correct structure from the data given. Option 1: Current Assets, Non-Current Assets, Current Liabilities, Non-Current Liabilities, Owner’s Equity - This option presents the standard top-level headings in the correct order for a balance sheet, but it does not provide the specific line items or the totals. On its own, it is a structural header rather than a completed balance sheet. If the task requires exact line items in trial-balance order, this option is incomplete because it lacks the detailed assets, liabilities, and equity figures arranged under the stated headings. Option 2: Current Assets, Non-Current Assets, Current Liabilities, Non-Current Liabilities, Owner’s Equity - This option mirrors Option 1 and again only lists the broad categories without the line-by-line items or totals. It still fails to show the exact accounts in trial balance order (Bank, Accounts Receivable, Inventory, etc., for current assets; Premises and Delivery Truck for non-current assets; Accounts Payable, Salaries Payable, Loan, etc., for liabilities; Capital, Drawings, Profit for equity). Option 3: Bank, Capital, Accounts Payable, Drawings, Premises, Stock of Stationery, Accounts Receivable, Sales Return & Allowances, Salary Payable, Sales Discount Income, Cost of Sales, Loan from ABC Bank, Inventory, Salary Expense, Discount Expenses, Stationery Expense, Depreciation Expense, Miscellaneous Expenses, Delivery Truck, Accumulated Depreciation of Delivery Truck - This option mixes asset accounts (Bank, Premises, Inventory, Accounts Receivable, Delivery Truck) with liability (Accounts Payable, Loan), equity (Capital, Drawings), and income/expense accounts (Sales Discount Income, Cost of Sales, Salaries Expense, etc.). A balance sheet should not include expense or revenue accounts, nor should it include income statement items under the balance sheet headings. It also places items out of trial balance order and includes accounts that belong on the income statement, reducing clarity and correctness. Option 4: [Blank placeholder in original text] - Without any content, this option provides no usable structure or data for the balance sheet. It cannot be correct because no line items or totals are presented. Option 5: Bank, Capital, Accounts Payable, Drawings, Premises, Stock of Stationery, Accounts Receivable, Sales Return & Allowances, Salary Payable, Sales Discount Income, Cost of Sales, Loan from ABC Bank, Inventory, Salary Expense, Discount Expenses, Stationery Expense, Depreciation Expense, Miscellaneous Expenses, Delivery Truck, Accumulated Depreciation of Delivery Truck - This option repeats the problem of mixing balance sheet items with income statement items. It also includes items like Sales Return & Allowances, Sales Discount Income, Cost of Sales, Salaries Expense, Discount Expenses, Stationery Expense, Depreciation Expense, Miscellaneous Expenses under the balance sheet headings, which is ina......Login to view full explanation