well as the income statement and balance sheet.
- Question Complete The Unadjusted And Adjusted Trial Balance As Well As The Income Statement And Balance Sheet 1 (156.12 KiB) Viewed 23 times
Question: Complete the unadjusted and adjusted trial balance as well as the income statement and balance sheet.
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Question: Complete the unadjusted and adjusted trial balance as well as the income statement and balance sheet.
Question: Complete the unadjusted and adjusted trial balance as
well as the income statement and balance sheet.
Proprietor: Name: Mr. Isell Holmes Realtor 21 Description: Real Estate Agent Additional Information: The business has the following opening balances: Cash At Bank Account Receivable Motor Vehicle Bank loan interest rates (% per year) Motor vehicle useful life (years) Motor vehicle scrap value ($) Account Payable Insurance paid for (months) Rent paid for (months) Furniture useful life (years) Bank Loan (due 2022) Furniture Promotional Capital Material Supplies Furniture scrap value ($) Closing stock of promotional materials 30/6 ($) Staff work a 14 day fortnight and are paid on the 15th day. Transactions: Date Description Date Description $2,776 2-Jun Advertising placement fees - Cash $999 1-Jun Paid General Insurance 2-Jun Motor Vehicle Expenses $1,084 3-Jun Rent of Business Premises 3-Jun Auction commission - Account 5-Jun Payment to Account Payable 6-Jun Rental commission - Cash $1,057 $340 $3,240 $235 $1,749 $1,121 5-Jun Sundry Expenses $1,947 6-Jun Auction commission - Cash $1,196 8-Jun Advertising placement fees - Account $696 7-Jun Auction commission - Account 9-Jun Payment to Account Payable 10-Jun Rental commission - Account 12-Jun Cash Withdrawals by Owner 10-Jun Advertising Expense - Account $1,488 11-Jun Purchase promotional materials $1,509 $745 $1,072 $875 14-Jun Advertising Expense - Cash $694 12-Jun Advertising placement fees - Cash 15-Jun Staff Wages $2,871 16-Jun Advertising placement fees - Account $899 26-Jun Receive Payment from Account Customers $1,926 27-Jun Auction commission - Cash $1,765 27-Jun Rental commission - Account $1,448 $1,442 27-Jun Receive Payment from Account Customers 28-Jun Rental commission - Cash $1,576 27-Jun Additional cash contributed by owner 29-Jun Staff Wages $3,486 $2,871 Comments: - Assume that this assignment involves an existing business that was purchased by the new owner on 1 June 2019. - Note the list of transactions is in date order, left to right, line by line. - Use three separate ledger accounts for revenue, namely rental commission, auction commission and advertisement placement fees. All revenues relate to the month of June. - Transactions involve cash unless specified as 'Account'. - Record payments for rent and insurance in prepaid accounts initially. - Information relevant to complete adjusting entries can be found in the top right section of this page. - The periods to which the rent and insurance apply commence on 1 June. - Round your calculations to the nearest dollar. $14,329 $17,254 $36,532 $9,874 $26,046 $28,845 $594 ? Amount 9 5 3,530 4 3 3 0 927 Amount
well as the income statement and balance sheet.
Proprietor: Name: Mr. Isell Holmes Realtor 21 Description: Real Estate Agent Additional Information: The business has the following opening balances: Cash At Bank Account Receivable Motor Vehicle Bank loan interest rates (% per year) Motor vehicle useful life (years) Motor vehicle scrap value ($) Account Payable Insurance paid for (months) Rent paid for (months) Furniture useful life (years) Bank Loan (due 2022) Furniture Promotional Capital Material Supplies Furniture scrap value ($) Closing stock of promotional materials 30/6 ($) Staff work a 14 day fortnight and are paid on the 15th day. Transactions: Date Description Date Description $2,776 2-Jun Advertising placement fees - Cash $999 1-Jun Paid General Insurance 2-Jun Motor Vehicle Expenses $1,084 3-Jun Rent of Business Premises 3-Jun Auction commission - Account 5-Jun Payment to Account Payable 6-Jun Rental commission - Cash $1,057 $340 $3,240 $235 $1,749 $1,121 5-Jun Sundry Expenses $1,947 6-Jun Auction commission - Cash $1,196 8-Jun Advertising placement fees - Account $696 7-Jun Auction commission - Account 9-Jun Payment to Account Payable 10-Jun Rental commission - Account 12-Jun Cash Withdrawals by Owner 10-Jun Advertising Expense - Account $1,488 11-Jun Purchase promotional materials $1,509 $745 $1,072 $875 14-Jun Advertising Expense - Cash $694 12-Jun Advertising placement fees - Cash 15-Jun Staff Wages $2,871 16-Jun Advertising placement fees - Account $899 26-Jun Receive Payment from Account Customers $1,926 27-Jun Auction commission - Cash $1,765 27-Jun Rental commission - Account $1,448 $1,442 27-Jun Receive Payment from Account Customers 28-Jun Rental commission - Cash $1,576 27-Jun Additional cash contributed by owner 29-Jun Staff Wages $3,486 $2,871 Comments: - Assume that this assignment involves an existing business that was purchased by the new owner on 1 June 2019. - Note the list of transactions is in date order, left to right, line by line. - Use three separate ledger accounts for revenue, namely rental commission, auction commission and advertisement placement fees. All revenues relate to the month of June. - Transactions involve cash unless specified as 'Account'. - Record payments for rent and insurance in prepaid accounts initially. - Information relevant to complete adjusting entries can be found in the top right section of this page. - The periods to which the rent and insurance apply commence on 1 June. - Round your calculations to the nearest dollar. $14,329 $17,254 $36,532 $9,874 $26,046 $28,845 $594 ? Amount 9 5 3,530 4 3 3 0 927 Amount
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