Refer to the office memorandum below to record the end-of-period adjustments in
ID: 2601872 • Letter: R
Question
Refer to the office memorandum below to record the end-of-period adjustments in the general journal,
post the adjusting entries to the general ledger and complete the adjustments and adjusted trial balance columns in the worksheet.
(Note: Enter accounts in ascending account number order according to the chart of accounts.)
fill in the blanks which is required
GENERAL LEDGER
Name: PREPAID INSURANCE
Acct No.: 120
Date
Explanation
Post Ref
Debit
Date
Explanation
Post Ref
Credit
June
1
Balance
381.25
June
Name: PREPAID RATES AND TAXES
Acct No.: 130
Date
Explanation
Post Ref
Debit
Date
Explanation
Post Ref
Credit
June
1
Balance
164.75
June
Name: ACCUMULATED DEPRECIATION - BLDGS AND IMPROVEMENTS
Acct No.: 161
Date
Explanation
Post Ref
Debit
Date
Explanation
Post Ref
Credit
June
1
Balance
43,750.00
Name: ACCUMULATED DEPRECIATION - HIRE EQUIPMENT
Acct No.: 171
Date
Explanation
Post Ref
Debit
Date
Explanation
Post Ref
Credit
June
17
Hire Equipment (Cost)/Profit on Sale of PPE
GJ20
491.00
June
1
Balance
67,500.00
Name: ACCUMULATED DEPRECIATION - MOTOR VEHICLES
Acct No.: 181
Date
Explanation
Post Ref
Debit
Date
Explanation
Post Ref
Credit
June
1
Balance
8,970.00
Name: ACCUMULATED DEPRECIATION - STORE EQUIPMENT
Acct No.: 191
Date
Explanation
Post Ref
Debit
Date
Explanation
Post Ref
Credit
June
1
Balance
6,615.00
Name: SUPERANNUATION PAYABLE
Acct No.: 230
Date
Explanation
Post Ref
Debit
Date
Explanation
Post Ref
Credit
June
25
Bank Account
CPJ12
432.00
June
1
Balance
432.00
Name: WAGES AND SALARIES PAYABLE
Acct No.: 240
Date
Explanation
Post Ref
Debit
Date
Explanation
Post Ref
Credit
june
Name: BANK LOAN
Acct No.: 280
Date
Explanation
Post Ref
Debit
Date
Explanation
Post Ref
Credit
June
1
Bank Account
CPJ12
2,000.00
June
1
Balance
220,000.00
Name: CAPITAL
Acct No.: 310
Date
Details
Post Ref
Debit
Date
Details
Post Ref
Credit
June
1
Balance
151,156.00
Name: DRAWINGS
Acct No.: 315
Date
Details
Post Ref
Debit
Date
Details
Post Ref
Credit
June
1
Balance
36,000.00
12
Bank Account
CPJ12
3,040.00
Name: DEPRECIATION
Acct No.: 615
Date
Explanation
Post Ref
Debit
Date
Explanation
Post Ref
Credit
June
1
Balance
35,323.00
Name: INSURANCE
Acct No.: 635
Date
Explanation
Post Ref
Debit
Date
Explanation
Post Ref
Credit
June
1
Balance
4,193.75
Name: INTEREST EXPENSE
Acct No.: 640
Date
Explanation
Post Ref
Debit
Date
Explanation
Post Ref
Credit
June
1
Balance
14,002.80
Name: RATES AND TAXES
Acct No.: 660
Date
Explanation
Post Ref
Debit
Date
Explanation
Post Ref
Credit
June
1
Balance
1,812.25
Name: SUPERANNUATION
Acct No.: 680
Date
Explanation
Post Ref
Debit
Date
Explanation
Post Ref
Credit
June
1
Balance
1,404.00
Name: WAGES AND SALARIES
Acct No.: 690
Date
Explanation
Post Ref
Debit
Date
Explanation
Post Ref
Credit
June
1
Balance
15,600.00
28
Bank Account
CPJ12
4,600.00
GENERAL LEDGER
Name: PREPAID INSURANCE
Acct No.: 120
Date
Explanation
Post Ref
Debit
Date
Explanation
Post Ref
Credit
June
1
Balance
381.25
June
Trial Balance as at 30 June 20XX Account Number 100 105 110 120 130 140 160 161 Account Debit Credit Bank Account Petty Cash Accounts Receivable Prepaid Insurance Prepaid Rates and Taxes GST Paid (Outlays) Buildings and Improvements (Cost) Accumulated Depreciation - Bldgs and Improvements Hire Equipment (Cost) Accumulated Depreciation -Hire Equipment Motor Vehicles (Cost) Accumulated Depreciation - Motor Vehicles Store Equipment (Cost) Accumulated Depreciation -Store Equipment Accounts Payable GST Collected PAYG Withholding Payable Superannuation Payable Wages and Salaries Payable Bank Loan Capital Drawinqs 7,218.12 200.00 7,520.00 381.25 164.75 2,496.24 350,000.00 43,750.00 110,956.09 29,900.00 14,700.00 170 67,009.00 180 181 190 191 200 210 220 230 240 280 310 315 8,970.00 6,615.00 5,346.00 6,735.43 1,660.00 218,000.00 151,156.00 39,040.00Explanation / Answer
End of period adjustments in the General Journal 30-Jun Wages and Salaries 80.00 Wages Payable 80.00 (Wages and salaries payable at the end of June) 30-Jun Insurance 381.25 Rates and Taxes 164.75 Prepaid Insurance 381.25 Prepaid Rates and Taxes 164.75 (transfer Pepaid expenses balance) 30-Jun Superannuation 414.00 Superannuation Payable 414.00 (Superannuation payable for June) 30-Jun Depreciation 3,335.00 Accumulated Depreciation-Building & Improvements 729.00 Accumulated Depreciation-Hire Equipments 1,924.00 Accumulated Depreciation-Motor Vehicles 498.00 Accumulated Depreciation-Store Equipment 184.00 (Depreciation for the month) 30-Jun Interest expense 1,191.67 Bank loan 1,191.67 (Bank Loan interest for the month) General Ledger Name: Prepaid Insurance Date Explanation Post Ref Debit Date Explanation Post Ref Credit 1-Jun Balance 381.25 30-Jun Transfer 381.25 Name: Prepaid Rates and Taxes Date Explanation Post Ref Debit Date Explanation Post Ref Credit 1-Jun Balance 164.75 30-Jun Transfer 164.75 Name: Accumulated Depreciation-Building & Improvements Date Explanation Post Ref Debit Date Explanation Post Ref Credit 1-Jun Balance 43750 30-Jun Depreciation 729 Name: Accumulated Depreciation-Hire Equipment Date Explanation Post Ref Debit Date Explanation Post Ref Credit 17-Jun Hire Equipment GJ20 491 1-Jun Balance 67500 30-Jun Depreciation 1924 Name: Accumulated Depreciation-Motor Vehicles Date Explanation Post Ref Debit Date Explanation Post Ref Credit 1-Jun Balance 8970 30-Jun Depreciation 498 Name: Accumulated Depreciation-Store Equipment Date Explanation Post Ref Debit Date Explanation Post Ref Credit 1-Jun Balance 6615 30-Jun Depreciation 184 Name: Superannuation Payable Date Explanation Post Ref Debit Date Explanation Post Ref Credit 25-Jun Bank Account CPJ 12 432 1-Jun Balance 432 30-Jun Superannuation expense 414 Name: Wages & Salaries Payable Date Explanation Post Ref Debit Date Explanation Post Ref Credit 30-Jun Wages expenses 80 Name: Bank Loan Date Explanation Post Ref Debit Date Explanation Post Ref Credit 1-Jun Bank Account CPJ12 2000 1-Jun Balance 220000 30-Jun Interest 1191.67 Name: Depreciation Date Explanation Post Ref Debit Date Explanation Post Ref Credit 1-Jun Balance 35323 30-Jun Accumulated Depreciation 3335 Name: Insurance Date Explanation Post Ref Debit Date Explanation Post Ref Credit 1-Jun Balance 4193.75 30-Jun Prepaid Insuance 381.25 Name: Interest Date Explanation Post Ref Debit Date Explanation Post Ref Credit 1-Jun Balance 14002.8 30-Jun Bank Loan 1191.67 Name: Rates & Taxes Date Explanation Post Ref Debit Date Explanation Post Ref Credit 1-Jun Balance 1812.25 30-Jun Prepaid- rates 164.75 Name: Superannuation Date Explanation Post Ref Debit Date Explanation Post Ref Credit 1-Jun Balance 1404 30-Jun Payable 414 Name: Wages & Salaries Date Explanation Post Ref Debit Date Explanation Post Ref Credit 1-Jun Balance 15600 28-Jun Bank Account CPJ 12 4600 30-Jun Payable 80 Adjusted Trial Balance Trial Balance Adjustments Adjusted Trial Balance Acct no. Account Dr. Cr. Dr. Cr. Dr. Cr. 100 Bank Account 7,218.12 7,218.12 - 105 Petty Cash 200.00 200.00 - 110 Accounts Receivable 7,520.00 7,520.00 - 120 Prepaid Insurance 381.25 381.25 381.25 381.25 130 Prepaid Rates & Taxes 164.75 164.75 164.75 164.75 140 GST Paid (Outlays) 2,496.24 2,496.24 - 160 Building & Improvements (Cost) 350,000.00 350,000.00 - 161 Accumulated Depreciation-Building & Improvements 43,750.00 729.00 - 44,479.00 170 Hire Equipment (Cost) 110,956.09 110,956.09 - 171 Accumulated Depreciation-Hire Equipment 67,009.00 1,924.00 - 68,933.00 180 Motor Vehicle (Cost) 29,900.00 29,900.00 - 181 Accumulated Depreciation-Motor Vehicle 8,970.00 498.00 - 9,468.00 190 Store Equipment (Cost) 14,700.00 14,700.00 - 191 Accumulated Depreciation-Store Equipment 6,615.00 184.00 - 6,799.00 200 Accounts Payable 5,346.00 - 5,346.00 210 GST Collected 6,735.43 - 6,735.43 220 PAYG Withholding Payable 1,660.00 - 1,660.00 230 Superannuation Payable 414.00 - 414.00 240 Wages & Salaries Payable 80.00 - 80.00 280 Bank Loan 218,000.00 1,191.67 - 219,191.67 310 Capital 151,156.00 - 151,156.00 315 Drawings 39,040.00 39,040.00 - 400 Hire Service Income 127,203.19 - 127,203.19 410 Lesson Income 30,810.00 - 30,810.00 420 Discount Received 517.51 - 517.51 430 Freight Collected 85.00 - 85.00 440 Profit on Sale of PPE 289.82 - 289.82 600 Advertising 2,150.00 2,150.00 - 605 Bank Charges 127.10 127.10 - 610 Cleaning 900.00 900.00 - 615 Depreciation 35,323.00 3,335.00 38,658.00 - 620 Discounts Given 309.00 309.00 - 625 Electricity 3,480.50 3,480.50 - 630 Freight expenses 1,111.44 1,111.44 - 635 Insurance 4,193.75 381.25 4,575.00 - 640 Interest Expense 14,002.80 1,191.67 15,194.47 - 645 Motor Vehicle Expense 2,610.00 2,610.00 - 650 Office Supplies 118.80 118.80 - 655 Printing and Postage 161.83 161.83 - 660 Rates and Taxes 1,812.25 164.75 1,977.00 - 665 Repair and Maintenance 995.00 995.00 - 670 Diving Instruction Charges 14,930.00 14,930.00 - 675 Staff Amenities 260.83 260.83 - 680 Superannuation 1,404.00 414.00 1,818.00 - 685 Telephone 1,479.60 1,479.60 - 690 Wages & Salaries 20,200.00 80.00 20,280.00 - 668,146.35 668,146.95 5,566.67 5,566.67 673,713.02 673,713.62
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