Homework Help Question & Answers

The trial balance for Pro Diver is shown below. Question 1 The trial balance for Pro Diver is shown below Pro Diver Trial Balance as at 30 June 20XX Account Number Account Debit Credit 100...

The trial balance for Pro Diver is shown below.

Question 1 The trial balance for Pro Diver is shown below Pro Diver Trial Balance as at 30 June 20XX Account Number Account D

430 440 Profit on Sale of PPE 600 605 610 Cleaning 615 620 Discounts Given 625 Electricity 630 635 Insurance 640 Interest Exp

part (i) part (i) to be submitted for grading Refer to the office memorandum below to record the end-of-period adjustments in

Page: 20 GENERAL JOURNAL Credit Debit Post Ref Description Date 615 120 635 (Wages and salaries payable at the end of June) 1

GENERAL LEDGER Name: PREPAID INSURANCE Acct No.: 120 Date Explanation Post Ref Debit Date Post Ref Credit June 1 Balance 381.

Name: SUPERANNUATION PAYABLE Acct No.: 230 Debit Date Explanation Post Ref Date Explanation Post Ref Credit June 25 Bank Acco

Name: INSURANCE Acct No.: 635 Date Explanation Post Ref Debit Date Explanation Post Ref Credit June 1 Balance 4,193.75 Name:

WORKSHEET Worksheet for period ended 30 June 20xX Acct No. Account Trial Balance Dr Adjustments Adjusted Trial Balance Cr Dr

315 Drawings 400 Hire Service Income 410 Lesson Income 420 Discounts Received 430 Freight Collected 440 Profit on Sale of PPE

690 Wages and Salaries 20,200.00 668,229.17 668,229.17 MPORTANT: Have you completed all of the requirements and followed the

Question 1 The trial balance for Pro Diver is shown below Pro Diver Trial Balance as at 30 June 20XX Account Number Account Debit Credit 100 105 Petty Cash 110Accounts Receivable 120 Prepaid Insurance 130 Prepai Rates and Taxes 140 GST Paid (Outlays) 160 Buildings and Improvements (Cost) Bank Account 7,223.47 200.00 7,552.00 381.25 164.75 2,503.11 350,000.00 Accumulated Depreciation - Bldgs and Improvements 43,750.00 170 Hire Equipment (Cost) 171 Accumulated Depreciation - Hire Equipment 180 Motor Vehicles (Cost) 181 Accumulated Depreciation - Motor Vehicles 190 Store Equipment (Cost) 191 Accumulated Depreciation Store Equipment 200 Accounts Payable 210 GST Collected 220 PAYG Withholding Payable 230 Superannuation Payable 240 Wages and Salaries Payable 280 Bank Loan 310 Capital 315 Drawings 400 Hire Service Income 410 Lesson Income 420 Discounts Received 110,987.36 67,030.00 29,900.00 8,970.00 14,700.00 6,615.00 5,392.00 6,738.25 1,660.00 218,000.00 151,156.00 39,004.00 127,234.00 30,810.00 518.83
430 440 Profit on Sale of PPE 600 605 610 Cleaning 615 620 Discounts Given 625 Electricity 630 635 Insurance 640 Interest Expense 645 650 Office Supplies 655 660 Rates and Taxes 665 670 675 680 Superannuation 685 690 Wages and Salaries 85.00 Freight Collected 270.09 Advertising Bank Charges 2,150.00 127.10 900.00 35,323.00 309.60 3,480.50 1,110.53 4,193.75 14,002.80 2,610.00 118.80 163.65 1,812.25 995.00 14,971.82 260.83 1,404.00 1,479.60 20,200.00 668,229.17 Depreciation Freight Expense Motor Vehicle Expenses Printing and Postage Repairs and Maintenance Diving Instruction Charges Staff Amenities Telephone 668,229.17

part (i) part (i) to be submitted for grading 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.) OFFICE MEMORANDUM Date: 30/06/20XX To: Tyler Mackee SUBJECT: End-of-period adjustments Adjusting journal entries are required for the following 1. Wages payable at the end of June S80.00 2. Transfer the prepaid insurance and prepaid rates balances to their respective expense accounts 3. Superannuation payable for June $414.00 4. Depreciation for the month: a. Buildings & Improvements $729 b. Hire Equipment-$1924 c. Motor Vehicles-$498 d. Store Equipment $184 5. Interest charged on the bank loan for the period-$1191.67 (GST free) Signed: Accountant
Page: 20 GENERAL JOURNAL Credit Debit Post Ref Description Date 615 120 635 (Wages and salaries payable at the end of June) 191 640 240 181 660 230 280 CPJ12 680 690 GJ20 130 161 (Transfer prepaid expense balances) (Superannuation payable for June) (Depreciation for the month) (Bank loan interest for the month)
GENERAL LEDGER Name: PREPAID INSURANCE Acct No.: 120 Date Explanation Post Ref Debit Date Post Ref Credit June 1 Balance 381.25June 191 181 230 CPJ12 240 690 660 280 680 Name: PREPAID RATES AND TAXES Acct No.: 130 Date Explanation Post Ref Debit Date Explanation Credit June 1 Balance 164.75June Name: ACCUMULATED DEPRECIATION BLDGS AND IMPROVEMENTS Acct No.: 161 Date Explanation Post Ref Debit Date Credit GJ20 120 130 161 615 635 640 June 1 Balance 43,750.00 Name: ACCUMULATED DEPRECIATION -HIRE EQUIPMENT Acct No.: 171 Explanation Date Post Ref Debit Date Explanation Credit Hire Equipment (Cost)/Profit onG120 Sale of PPE 67,500.00 June 17 470.00 June 1 Balance Name: ACCUMULATED DEPRECIATION -MOTOR VEHICLES Acct No.: 181 Post Ref Date Explanation Debit Date Explanation Post Ref Credit 8,970.00 June 1 Balance Name: ACCUMULATED DEPRECIATION -STORE EQUIPMENT Acct No.: 191 Post Ref Date Explanation Debit Date Explanation Post Ref Credit 6,615.00 June 1 Balance
Name: SUPERANNUATION PAYABLE Acct No.: 230 Debit Date Explanation Post Ref Date Explanation Post Ref Credit June 25 Bank Account CP112 432.00 June 1 Balance 432.00 Acct No.: 240 Name: WAGES AND SALARIES PAYABLE Debit Date Explanation Post Ref Date Explanation Post Ref Credit une Name: BANK LOAN Acct No.: 280 Debit Date Explanation Post Ref Date Explanation Post Ref Credit June 1 Bank Account CP112 2,000.00 June 1 Balance 220,000.00 Acct No.: 310 Name: CAPITAL Details Debit Date Date Post Ref Details Post Ref Credit June 1 Balance 151,156.00 Name: DRAWINGS Acct No.: 315 Details Balance Bank Account Details Post Ref Date Post Ref Credit Date Debit June 1 36,000.00 12 CP112 3,004.00 Name: DEPRECIATION Acct No.: 615 Debit Date Explanation Post Ref Date Explanation Post Ref Credit Balance 35,323.00 June 1
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 Explanation Post Ref Credit June 1 Balance 1,812.25 Acct No.: 680 Name: SUPERANNUATION Explanation Debit Explanation Post Ref Credit Post Ref Date June 1 Balance 1,404.00 Name: WAGES AND SALARIES Acct No.: 69 Explanation Explanation Balance Bank Account Post Ref Debit Post Ref Credit 15,600.00 4,600.00 June 1 28 CP112
WORKSHEET Worksheet for period ended 30 June 20xX Acct No. Account Trial Balance Dr Adjustments Adjusted Trial Balance Cr Dr Cr Dr Cr 100 105 110 120 130 140 160 161 170 Bank Account Petty Cash Accounts Receivable Prepaid Insurance Prepaid Rates and Taxes GST Paid (Outlays) Buildings and Improvements (Cost) Accumulated Depreciation Bldgs and 7,223.47 200.00 7,552.00 381.25 164.75 2,503.11 350,000.00 43,750.00 Improvements Hire Equipment (Cost) Accumulated Depreciation - Hire 110,987.36 67,030.00 171 Equipment Motor Vehicles (Cost) Accumulated Depreciation Motor 29,900.00 180 181 190 191 200 210 220 230 240 280 310 8,970.00 Vehicles Store Equipment (Cost) Accumulated Depreciation Store 14,700.00 6,615.00 5,392.00 6,738.25 1,660.00 Equipment Accounts Payable GST Collected PAYG Withholding Payable Superannuation Payable Wages and Salaries Payable Bank Loan Capital 218,000.00 151,156.00
315 Drawings 400 Hire Service Income 410 Lesson Income 420 Discounts Received 430 Freight Collected 440 Profit on Sale of PPE 600 Advertising 605 Bnk Charges 610 Cleaning 615 Depreciation 620 Discounts Given 625 Electricity 630 Freight Expense 635 Insurance 640 Interest Expense 645 Motor Vehicle Expenses 650 Office Supplies 655 Printing and Postage 660 Rates and Taxes 665 Repairs and Maintenance 670 Diving Instruction Charges 675 Staff Amenities 680 Superannuation 685 Telephone 39,004.00 127,234.00 30,810.00 518.83 85.00 270.09 2,150.00 127.10 900.00 35,323.00 309.60 3,480.50 1,110.53 4,193.75 14,002.80 2,610.00 118.80 163.65 1,812.25 995.00 14,971.82 260.83 1,404.00 1,479.60
690 Wages and Salaries 20,200.00 668,229.17 668,229.17 MPORTANT: Have you completed all of the requirements and followed the instructions? Check now before clicking 'Submit answer. lick if you would like to Show Work for this question: Open Show Work
0 0
Next > < Previous
ReportAnswer #1

Date 30-Jun Wages Description Post Ref 690 240 Debit Credit 80.00 Wages & Salaries Pay able 80.00 30-Jun Insurance 635 381.25

Trial Balance Adjustments Debit Adiusted Trial Balance No Account Debit 7223.47 200.00 7552.00 381.25 164.75 2503.11 350000.0280 Bank loarn 310 Capital 315 Drawings 400 Hire Service Income 410 Lesson income 420 Discount received 430 Freight collected675 Staff amenties 680 Supernnuation 685Telephone 260.83 1404.00 1479.60 xAx.ci 260.83 414.00 1818.00 80.00 20280.00 668229.1Prepaid Insurance Date Explanation Post Ref Debit Date Explanation Post Ref Credit 381.25 June1 Balance 381.25 June 30 InsuraAccumulated Dep Motor Vehicle Date Post Ref Credit Explanation Date Post Ref Debit Explanation 8970.00 1 Balance 30 DepreciatBank Loan Date Explanation Post Ref Debit Date Explanation Post Ref Credit June1 Bank Account 1 Balance 30 Interest expensesInsurance Explanation Post Ref Debit Explanation Post Ref Credit Date Date June1 Balance June30 Prepaid Insurance 4193.75 381Wages & Salaries Explanation Post Ref Debit DateEx Post Ref Credit June1 Balance June1 Bank Account June 30Wages & Salaries P

Know the answer?
Add Answer of:
The trial balance for Pro Diver is shown below. Question 1 The trial balance for Pro Diver is shown below Pro Diver Trial Balance as at 30 June 20XX Account Number Account Debit Credit 100...
Your Answer: Your Name: What's your source?
Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • 172 50 90 230 Adjusted trial balance as at 30 June 20XX Account no. Account Debit Credit 100 Cash at bank 10,965 110 Ac...

    172 50 90 230 Adjusted trial balance as at 30 June 20XX Account no. Account Debit Credit 100 Cash at bank 10,965 110 Accounts receivable 12,740 120 Inventory 40,470 130 Prepaid insurance 3,245 171 Shop equipment (cost) 32,600 Accumulated depreciation - shop equipment 408 200 Accounts payable 30,480 210 PAYG withholding payable 220 Superannuation payable Bank loan 29,221 300 Capital 30,900 400 Sales revenue 23,900 410 Sales returns and allowances 560 420 Discount received 2,010 500 Cost of sales 12,410...

  • The June transactions above have been journalised and posted. Skate ‘n’ Surf Trial balance as at 30 June 20XX Account no...

    The June transactions above have been journalised and posted. Skate ‘n’ Surf Trial balance as at 30 June 20XX Account no. Account Debit Credit 100 Cash at bank 14,860 110 Accounts receivable 16,430 120 Inventory 40,510 130 Prepaid insurance 4,080 171 Shop equipment (cost) 45,000 200 Accounts payable 30,280 210 PAYG withholding payable 40 230 Bank loan 41,900 300 Capital 37,000 400 Sales revenue 26,150 410 Sales returns and allowances 260 420 Discount received 2,000 500 Cost of sales 13,970...

  • Problem 3-2A The Sky ne Motel opened for business on May 1, 2015, ts tria balance before adjustment on May 31 is as folows 1, 2015 3,592 Prepaid Insurance 2,784 Buldings Martgage Payabie Comm...

    Problem 3-2A The Sky ne Motel opened for business on May 1, 2015, ts tria balance before adjustment on May 31 is as folows 1, 2015 3,592 Prepaid Insurance 2,784 Buldings Martgage Payabie Common Szock 35,138 11,134 Advert sing Expense Salaries and Wages Expense in acdcon to those accouves isted on the brial ba ance, the chart of accounts for Skyine Motel a so concains the folowing accounts and account numbers: No. 142 Accumulated Dep eciation-Buildings, No. 150 Accumuated Depreciation...

  • Part B (16 marks) The Adjusted Trial Balance for World Travel as at 30 June 2017...

    Part B (16 marks) The Adjusted Trial Balance for World Travel as at 30 June 2017 is presented as follows: Credit (8) 319 000 WORLD TRAVEL Adjusted Trial Balance as at 30 June 2017 Debit (S) Account 195 540 Cash at bank 297 700 Accounts receivable 10 200 Prepaid insurance Office supplies 1 500 Vehicles 920 000 Accumulated depreciation - vehicles Land 670 000 Accounts payable Wages payable Mortgage payable (due 30 June 2024) A. Fung. Capital A. Fung, Drawings...

  • 2. Consider the following worksheet for Parker's Cleaning Service (Click the icon to view the par...

    2. Consider the following worksheet for Parker's Cleaning Service (Click the icon to view the partial worksheet with the trial balance, adjustments, and adjusted trial balance columns.) (Click the icon to view the partial worksheet with the income statement and balance sheet columns) From the worksheet, (1) joumalize and post adjusting and closing entries. The unadjusted balances have been entered into the ledger accounts for you, and (2) prepare from the ledger a post-closing trial balance for the month of...

  • Dump Company Post-Closing Trial Balance December 31, 2016 Account Debit Credit Cash $ Accounts Receivable 27,000 18,000...

    Dump Company Post-Closing Trial Balance December 31, 2016 Account Debit Credit Cash $ Accounts Receivable 27,000 18,000 18,000 Merchandise Inventory 1,500 50,000 12,000 Prepaid Insurance Equipment and Fixtures Accumulated Depreciation Accounts Payable Salaries and Commissions Payable Common Stock 21,000 6,600 23,000 51,900 Retained Earnings $ 114,500 $ 114,500 Totals For the Quarter Ended March 31, 2017 Sales Revenue $ 121,700 60,850 Cost of Goods Sold Gross Profit Selling and Administrative Expenses: 60,850 Commissions Expense 6,085 5,000 Salaries Expense Rent Expense...

  • The adjusted trial balance for Tybalt Construction as of December 31, 2019, follows. Credit $ Debit...

    The adjusted trial balance for Tybalt Construction as of December 31, 2019, follows. Credit $ Debit 5,000 23,000 8,100 7,000 40,000 $ 20,000 150,000 50,000 55,000 16,500 2,500 3,500 2,500 900 TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2019 No. Account Title 101 Cash 104 Short-term investments 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 173 Building 174 Accumulated depreciation-Building 183 Land 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable...

  • Calculator Shores Sports rents canoes and kayaks. Below is the adjusted trial balance at December 31. Debit Credit...

    Calculator Shores Sports rents canoes and kayaks. Below is the adjusted trial balance at December 31. Debit Credit 1,500 Cash Accounts Receivable 2,000 100 1,600 Interest Receivable Prepaid Insurance Notes Receivable (Long-Term) 2,800 15,000 Equipment Accumulated Depreciation 3,000 2,400 Accounts Payable Accrued Expenses Payable Income Taxes Payable 3,920 2,700 500 7,700 Uneamed Rent Fees Common Stock 2,000 Dividends Rent Fees Earned 37,000 1,300 Furniture Rental Revenue 19,000 Wages Expense Depreciation Expense 320 Utilities Expense 700 Insurance Expense 9,000 Maintenance Expense...

  • FASHION CENTRE Adjusted Trial Balance November 30, 2015 Debit $22,000 Credit Cash....... Accounts receivable Merch...

    FASHION CENTRE Adjusted Trial Balance November 30, 2015 Debit $22,000 Credit Cash....... Accounts receivable Merchandise inventory Supplies..... Prepaid insurance Long-term investment.. Equipment .. Accumulated depreciation-equipment... Accounts payable. Salaries payable.. Interest payable Income tax payable Unearned revenue. 30,600 25,000 950 1,200 37,000 26.800 $ 16,080 34,400 1,210 175 1,100 600 35,000 16,400 25,000 Bank loan payable (matures 2018) Common shares. Retained earnings Dividends Sales ..... Interest revenue Sales discounts Sales returns and allowances. Cost of goods sold .. Salaries expense. Rent...

  • Sheffield Company's trial balance at December 31, 2019, is presented below. All 2019 transactions have been...

    Sheffield Company's trial balance at December 31, 2019, is presented below. All 2019 transactions have been recorded except for the items described following the trial balance Debit Credit $27,000 36,500 8,200 Cash Accounts Recelvable Notes Receivable Interest Receivable Inventory Prepaid Insurance Land Buildings Equipment Patents Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreclation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Notes Payable (due in 2020) Interest Payable Notes Payable (due after 2020) Common Stock Retained Earnings Dividends...

Need Online Homework Help?
Ask a Question
Get FREE Expert Answers
WITHIN MINUTES