Complete an income statement and statement of financial position based on information provided. 3. Questions Use the trial balance provided below to answer both Question 1 and Question 2. Note that the accounts in the trial balance appear in no particular order. Next Generation Ltd Trial balance on 31 December 2019 Debit Credit £ £ Share capital 570,000 Property, plant, and equipment 2,100,000 Bank 195,000 Revenue 480,000 Rental income 35,000 Cost of sales 225,000 Salaries and wages 110,000 Insurance 28,000 Fuel 12,000 Telephone line charges 8,000 Interest income 24,000 Interest expense 71,000 Inventory 165,000 Accounts receivable 43,000 Accounts payable 182,000 Tax expense 17,000 Petty cash 2,000 Long-term loan 270,000 Short-term loan 15,000 Mortgage 1,400,000 TOTAL 2,976,000 2,976,000 Question 1 Using the information included in the trial balance provided, complete the income statement for Next Generation Ltd for the year ending 31 December 2019. Add any further line items as necessary within the template by pressing the Enter key. Refer to the notes included in Unit 2 of this module to assist you with completing this question. Start writing here, using the template below to complete this question: Next Generation Ltd Income statement for the year ended 31 December 2019 £ Gross profit Other income Selling, administrative, and general expenses Operating profit Profit before tax Net profit Question 2 Using the information included in the trial balance provided, complete the statement of financial position for Next Generation Ltd as at 31 December 2019. Assume that the business is keeping the net profit earned during the year as retained earnings, instead of paying it out to the shareholders. Add any further line items as necessary within the template by pressing the Enter key. Refer to the notes included in Unit 2 of this module to assist you with completing this question. Start writing here, using the template below to complete this question: Statement of financial position of Next Generation Ltd as at 31 December 2019 £ Non-current assets Current assets TOTAL ASSETS Non-current liabilities Current liabilities Owners equity TOTAL EQUITY AND LIABILITIES
Why Hire a Professional Essay Writer from MyPaper Support
Quality Urgent Essays
MyPaper Support online platform provides the best essay writing service ever received elsewhere, thanks to our professional essay writers. Experience gained in the 10+ years of being in the assignment writing industry is also an added advantage.
Professional and Experienced Academic Writers
A lot is done to maintain us as the best essay writing service provider. Besides owning a degree from a recognized university, a writer must pass the rigorous tests we take them through before they are considered eligible to offer urgent essay help on our website.
Affordable Urgent Assignment Help
Who said a reliable website should not be cheap also? While it is human nature to associate prices with quality, that does not always work. At mypapersuppport.com, we guarantee you cheap and urgent essay help without compromising the quality.
24/7 Available Urgent Essay Writing Service
Whether it is a ‘write my essay for me cheap’ or ‘edit my essay’ order you want to request, always feel free to reach us at any time of the day. Our experts work in shifts to ensure that you access urgent essay writing services at any time of the day.
Plagiarism Free Essays Online
The punitive measures that come with plagiarized content are so harsh, and we understand that. We consequently ensure to write each client’s papers from scratch no matter how urgent the essay is. To acknowledge borrowed content, our quick writer references and cites the work.
Wow Customer Support 24/7
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
So much stress and so little time? Take care of yourself: let us help you with your tasks. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission and Business Papers
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Editing and Proofreading
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.