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Evans Ltd was started on 1 July 2021 with an investment of $150 000 cash. Following are the assets and liabilities of the company on 30 June 2022, and the revenues and expenses for the year of operations.
Cash
$155100
Bank loan
$90 000
Accounts receivable
43 000
Rent expense
37 500
Equipment (net)
120 000
Repair expense
700
Service revenue
250 000
Office expense
68 000
Advertising expense
16 500
Depreciation expense
30 000
Accounts payable
24 800
Insurance expense
24 000
No further shares were issued during the year, but a dividend of $20 000 in cash was paid.
Required:
Prepare a statement of financial position as at 30 June 2022.
Financial Statement Analysis and Preparation
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