Required (a) Prepare the adjusting entries that were made (please note the whole entry must be correct to be allocated marks, part answers will be marked as incorrect). (7 marks) (b) Prepare the Statement of Profit or Loss for the year ended 30 June 2017 (3.5 marks) (c) Prepare the Statement of Changes in Equity for the year ended 30 June 2017 (3 marks) (d) Prepare a properly classified Statement of Financial Position as at 30 June 2017 (7.5 marks) (e) List the accounts that would be closed at 30 June 2017 (1 mark) (f) Prepare a Post-closing Trial Balance at 30 June 2017 (2 marks) Question 2 (18 marks) The transactions of the Rosella Catering Ltd are recorded in the general journal below. You are required to: (a) Using T-Accounts post the journal entries (below) (9 marks) (b) After all entries have been posted, prepare a trial balance (hint, you will need to balance the accounts) Ensure you list the accounts in the following order within the Trial Balance: Assets, Liabilities, Equity, Revenue and Expenses (5 marks) (c) List and explain by way of an example 4 limitations of the trial balance (trial balances generally not specific to this business) (4 marks) Required: Prepare a Cash Flow Statement for the year ended 30 June 2016
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