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Prepare a kellys statement of affairs

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Reference no: EM132536319

Question - Kelly is a sole trader who does not keep full accounting records. She is able to provide the following:

Type at 31 Aug 2020 at 31 Aug 2021

Non-current asset at cost 30000 26000

Current asset 10000 21000

Current liability 5000 1000

Kelly's drawings for the year ended 31 Aug 2021 was $3000.

REQUIRED -

a. Prepare a Kelly's Statement of Affairs at 31/8/2020.

b. Prepare a Kelly's statement of affairs at 31/8/2021.

c. Prepare a Kelly's profit or loss for the year ended 31/8/2021.

Reference no: EM132536319

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