” program课程程序 辅导、 写作Python，Java，C++程序Homework 1 Due 28 September: Financial Statements (100 marks)Simon Gym Products (SGP) is a business located in the Underground Shopping Mall in Hamilton. Simon, the owner started up the store as a sole trader on 1 July 2019. She sells all types of gym and health related products. She provides you with the following information for the year ended 30 June 2020:On 1 July 2019, Simon deposited her savings into a business bank account to start up the business. $35,000On 1 July 2019, a bank loan (repayable over a 10-year period) was approved to SGP and was deposited into the business bank account. $25,000On 1 July 2019, Simon arranged a Bank overdraft facility for the SGP business $8,000On 1 July 2019, Equipment and Shop Fittings were purchased on credit. The credit period given was 36 months. The equipment and fittings were expected to last 10 years with a scrap value of $2,000. $12,000On 1 July 2019, Simon used business funds to purchase a vehicle for delivery purposes. The vehicle is expected to last 10 years with $500 as scrap value. $8,000On 1 August 2019, Simon bought a vehicle for her brother who is studying engineering as a reward for his good grades. She purchased the vehicle through a personal bank loan. The vehicle is expected to last 8 years with no scrap value. $25,600On 1 October 2019, Simon invested into the business, her sound entertainment system so that her employees and customers can listen to music as they shopped. The entertainment system is expected to last for 10 years With no scrap value. $2,000Cash collected from customers during the year $92,000Still owing from customers at the end of the year (to be collected next year) $18,000Cash paid for products to resell in the business $45,000Owing for products at the end of the year (to be paid next year) $11,000Cost of unsold products on hand at the end of the year (to be sold next year) $16,000Operating Expenses paid (includes Wages, Advertising, Phone and Electricity) $34,000Operating Expenses owing and unpaid for the year ended 30 June 2020 $3,000Rent of business premises: Monthly rental is paid in advance (13 months have been paid between 1 July 2019 and 31 July 2020) $19,500Simon made cash drawings from the business bank account for personal expenses during the year. $30,000Bank long-term loan principal repayments were made $2,500Interest paid on the bank loan (15%) $3,750After a hard years work, Simon took her best friend on a South African tour using business funds from the business. $7,000The Cash at Bank balance at 30 June 2020 was $2,250program课程作业 辅导、 写作Python，JavaSimon is keen to evaluate how well her business has performed for the first year of operations.Required:(a)Using the accrual basis, prepare the following financial statements for Simon Gym Products:(i)Cash Flow Statement for the year ended 30 June 2020;(ii)Income Statement for the Year ended 30 June 2020 and(iii)Balance Sheet as at 30 June 2020 (50 marks)(b)Simon is unsure why she even has to record depreciation in her Income Statement when she does not have to do so in the Cash Flow Statement. Explain the concept of depreciation and the importance of recording this item in the financial statements. (10 marks)(c)Write a brief evaluation report on how well Simons business has performed for the first year of operations.(40 marks)Simon Gym Products: Cash Flow Statement for the year ended 30 June 2020$ $ $Cash Flow from Operating Activities:Cash Flow from Investing Activities: Cash Flow From Financing Activities: Income Statement for the year ended 30 June 2020Income: $ $ $Less Cost of Products Gross Profit Less Operating Expenses: Net ProfitSimon Gym Products: Balance Sheet As at 30 June 2020OWNERS EQUITY: $ $ $Capital at start + Additional Capital + Net Profit – Drawings Capital at end THIS IS REPRESENTED BY: ASSETS: Current Assets: Non-Current Assets:TOTAL ASSETS: LESS LIABILITIES Current Liabilities:Long-Term Liability:TOTAL LIABILITIES: NET ASSETS如有需要，请加QQ：99515681 或邮箱：99515681@qq.com
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