Answer:
Hi, the question you have given has missing data, however the following can be noted when dealing with the required.
Income statement for the month of June
The Income Statement contains Revenues and Revenue Expenditures
Step 1 ; Obtain the Sales Amounts
Step 2 : Obtain the Cost of Sales Amounts
Step 3: Obtain the Operating and Non-Operating Expenses Amounts
Step 4: In Vertical Format or T - Account Prepare and Calculate the Income or Loss
Income or Loss = Sales - Cost of Sales - Expense
Balance sheet in account format for Safety Hire as at 30 June 2019
Balance Sheet contains balances of Assets, Liabilities and Capital (Which included Income or loss calculated in Income Statement above)
The Accounting Equation must be borne in mind ; Assets = Liabilities + Capital
The Account Format Must have entries as follows :
Debit :
Enter Assets Balances
Credit:
Enter Liabilities Balances
Enter Capital Balances (Which include Income or loss calculated in Income Statement above)
Step-by-step explanation:
Note key notes as explained above.