Prepare the fully classified statement of financial position

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Reference no: EM132280452

Question - Ms Kate Morris is the sole owner of Meowster, a pet service store that offers temporary accommodation and bathing services for cats. Following is Meowster's Adjusted Trial Balance prepared on 30 June 2018.

Meowster Adjusted Trial Balance as at 30 June 2018




Cash at Bank



Pet Bathing Supplies



Machines - Professional Pet Dryer



Accounts Payable



Long - Term Bank Loan



Kate Morris, Capital



Kate Morris, Drawings



Bathing Service Revenue



Accommodation Service Revenue



Pet Bathing Supplies Expense



Wages Expense



Rent Expense



Utility Expense



Interest Expense - Bank Loan






Required -

(a) Prepare closing entries; no narration required.

(b) Prepare the fully classified Statement of Financial Position in the narrative format, based on the post-closing balances (you are not required to show the post - closing trial balance).

Reference no: EM132280452

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