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ManualAccountingPracticeSet
IntermawebComputer,AustralasianEdition3

Feedback:Financialstatements
Thisisafeedbackpage.Pleasereviewthispagecarefullybecauselaterpagesinthispracticesetbuildonthe
feedbackprovidedhere.Afteryouhavereviewedyourfeedbackpage,clickContinueatthebottomofthis
pagetomoveontothenextpageofyourpracticeset.

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Thetimeframesweprovideareaguideonly.Itmay
takeyoumoreorlesstimetocompleteeachstep.

TocompletetheaccountingcycleforthemonthofJune,youarenowaskedtopreparethefollowingfinancial
statements:
Incomestatement.Thisstatementispreparedtohelpassessthefinancialperformanceofthebusiness.
ItsummarisestheincomeearnedandexpensesincurredoverthemonthofJune.
Statementofchangesinequity.Thisstatementshowsthemovementsinequityoverthemonthof
June.
Balancesheet.ThisstatementreportsthefinancialpositionofthebusinessattheendofJune.It
presentstheassets,liabilitiesandequityofthebusinessasat30June2015.
Instructionsforfinancialstatements
Usingthecompany'saccountingpoliciesfoundinthepoliciesandprocedurespopup,andappropriate
informationfrompreviouspagesofthepracticeset:
1) PrepareanincomestatementforthemonthofJune.
Tobegin,selecttheappropriateaccountsusingapopuplink.Notethatwhenyouselectanaccount,
bracketsmayautomaticallyappeararoundtheinputboxinwhichyouareaskedtoenterthebalanceof
theaccount.Next,enterallvaluesaspositiveamountsbecauseamountstobesubtractedareindicatedon
theincomestatementwithbracketsaroundtheinputbox.Notethattherearetwoinstanceswhereyou
arerequiredtoselectprofitorlossfromadropdownlist.Bracketswillbedisplayedifyouselectloss.
Youmaynotneedtouseallofthelinesintheincomestatement.
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2) PrepareastatementofchangesinequityforthemonthofJune.
Mostvaluesaretobeenteredintheinputboxesaspositiveamounts,becausevaluestobesubtractedare
alreadyindicatedonthestatementwithbracketsaroundtheinputbox.Notethatyouarerequiredto
selectprofit/lossfromadropdownlist.Bracketswillbedisplayedifyouselectloss.
3) PrepareabalancesheetasattheendofJune.
Tobegin,selecttheappropriateaccountsusingapopuplink.Notethatwhenyouselectanaccount,
bracketsmayautomaticallyappeararoundtheinputboxinwhichyouareaskedtoenterthebalanceof
theaccount.Next,enterallvaluesaspositiveamountsbecauseamountstobesubtractedwillbeindicated
onthebalancesheetwithbracketsaroundtheinputbox.
Youmaynotneedtouseallofthelinesinthebalancesheet.
BackOnTrackfunctionality
Pleasenotethatanyanswersfrompreviouspagescarriedthroughontothispage(eitheronthepage
orinapopupinformationpage)havebeenreset,ifnecessary,tothecorrectanswers.Yourparticular
answersfrompreviouspagesarenolongershown.
Remember:
Enterallanswerstothenearestwholedollar.
BeforepressingtheSubmitanswersbutton,werecommendthatyouclicktheShowAlltabandcheckthatall
relevantaccountingrecordshavebeencompleted.

ShowAll IncomeStatement

ChangesinEquity

BalanceSheet

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ManualAccountingPracticeSet
IntermawebComputer,AustralasianEdition3(VCA3q)
20092014Perdisco/latin/.v.,learnthoroughly
http://www.perdisco.com
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