1. Part 1 –
• 10-column worksheet
• Properly classified income statement for the
1. Part 1 –
• 10-column worksheet
• Properly classified income statement for the month ended 30 June 2019
• Statement of changes in equity for the month ended 30 June 2019
• Properly classified balance sheet as at 30 June 2019
2. Part 2 – Based on the work in Part 1 (Excel component), explain how the accrual accounting concept provides guidance to accountants in preparing the income statement and calculating profits. In the answer, include a discussion of the role of adjusting entries in accrual accounting. To this end, explain answer using TWO examples based on Part 1
