Question

Case Study - Australia Works Gemma Am m a Warwich provide placeres. The waited hal o .me 2016 elow was prepared by her com The following an interior al 30 h ow do 30 od 3780 2 The Chaos no s rod for free earnering S p anien that is 3500 AUSTRALIA WORKS Unadjusted Trial Balance asa 30 June 2016 14 210 1 470 750-ho 18 620 office equipment Account Cash at bank Accounts receivable OST receivable Prepaid advertising Office supplies Once equipment Accumulated depreciation Accounts payable Unearned fees GST payable G. Jones, Capital 6. Jones, Drawings Placement fees revenue Rent expense Salaries expense Telephone expense $ 2280 11 670 ఆరం 325 3220 14 240 16 000 100 620 12 240 62 500 2120 Sto S134 610 Required $134610 Journalise the adjusting and closing entries. You may need the following extra accounts not listed in the uradjusted trial balance. - Office supplies expense - Depreciation expense - Advertising expense Profit and Loss summary -Cse closing Page 2 of 2

Answer 1

Journal Entries
1	Office Supplies Expenses	Dr	$                                    570.00
	Unused Supplies	Dr	$                                    180.00
	To Office Supplies	Cr		$          750.00
	(Being Unused supplies in hand as on 30 June)
2	Unearned Fees	Dr	$                                    825.00
	To Fee Income	Cr		$          825.00
	(Being Fee earned during the year)
3	Depreciation Expenses	Dr	$                                 3,500.00
	To Office Equipment	Cr		$      3,500.00
	(being depreciaton on office equipment)
4	Advertising Expenses	Dr	$                                 1,350.00
	To Prepaid Advertising	Cr		$      1,350.00
	(Being advertising consumed during the year)
	Profit and Loss summary
	Particulars	Amount	Particulars	Amount
	To Rent Expenses	$     12,240.00	By Fees	$          825.00
	To Salaries Expenses	$     62,500.00	By Placement Fee Revenue	$ 100,620.00
	To Telephone Expenses	$       2,120.00
	To Office Supplies Expenses	$           570.00
	To Advertising Expenses	$       1,350.00
	To Depreciation Expenses	$       3,500.00
	To Profit and Loss	$     19,165.00
		$   101,445.00		$ 101,445.00