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I have trouble with this. Can you please help me? This is the info...

I have trouble with this. Can you please help me?


This is the info we have been given


Image transcription text

21. You are provided with the following Trial Balance at 30 June 2019 for Maloney Co. This company uses the perpetual inventory system. Required: (a) Prepare a Ten Column Worksheet. (b) Prepare the Income Statement for the year ended 30 June 2019. O A B C II - Maloney Co - Trial Balance at 30 June 2019 $ $ 3 Accumulated Depreciation - 13,000 Van Advertising 3,900 Bank 720 Capital 15,270 Accounts Payable 5,250 Accounts Receivable 6,000 Delivery Van 60.000 10 Discount Allowed 400 Insurance 900 Investments 20,000 13 Mortgage 24,000 14 Inventory at 30/6/2019 10,900 15 Cost of Goods Sold 117,700 16 Rent 13,000 17 Sales 220,000 18 Wages - Office 25,000 19 Wages - Sales 20,000 20 GST Paid 2,000 21 GST Collected 3,000 22 280,520 280,520 23 24 Additional Information Balance Day Adjustments still to be recorded: 25 Prepaid rent 1,100 26 Depreciation - Van 2, 100

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this is what I have done (Ten Column worksheet). I have the feeling it is wrong, but I am not sure where the error is or what cross checks I can do to make sure I am correct


Image transcription text

(a) Prepare the Ten Column Worksheet. Maloney Co - Ten Column Worksheet Details Trial Balance Adjustments Trading Account Profit & Loss Balance Sheet Dr Cr Dr Cr Dr Cr Dr Cr Or Cr Sales 220000 220000 Inventory 1090 10900 COGS 117700 1 17700 Wages - Sales 20000 20000 Wages - 25000 25000 Office Advertising 3900 3900 Rent 13000 1100 14100 Insurance 900 900 Disc. Allowed 400 400 A/C 6000 6000 Receivable Bank 720 720 GST Paid 200 2000 GST Collected 300 300 Investments 20000 20000 Delivery Van 60000 6000 Acc. Depn.- 13000 2100 10900 Van A/C Payable 5250 250 Mortgage 24000 24000 Capital 15270 15270 Total | 280520 280520 Prepaid Rent 1100 1100 Deprn - Van 2100 2100 Gross Profit 102300 102300 Net Profit 41200 41200 Total 3200 3200 220000 220000 105500 105500 99620 99620

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