Question

The trial balance for Mario's Pizza Palace at 30 June 20XX is presented below: Mario's Pizza Palace Trial balance as at 30 June 20xx Credit Account number 100 110 120 130 Debit 42,350 450 679 1,366 995 586 2,127 19,290 140 150 160 170 171 180 181 200 210 12,137 32,750 11,360 14,767 1,356 17,735 60,275 280 41,127 300 310 400 410 420 183,203 48 522 430 Account Cash Cash float Accounts receivable Inventory - food Inventory - packaging Prepaid advertising Prepaid insurance Motor vehicles (cost) Accumulated depreciation - motor vehicles Store equipment (cost) Accumulated depreciation - store equipment Accounts payable PAYG withholding payable Bank loan Owner's capital Owner's drawings Sales income Sales returns and allowances Discounts received Delivery income Food purchases Purchase returns and allowances Packaging costs Discount given Freight inwards Accountancy fees Advertising expense Bank charges Electricity and gas expense Insurance expense Interest expense Motor vehicles expense Printing, postage and stationery expense Rent expense Repairs and maintenance expense Sundry expenses Superannuation expense Telephone expense Wages expense 500 55,560 14,926 288 510 520 530 540 600 605 610 620 625 630 635 1,138 3,730 871 2,970 1,827 640 645 650 655 932 4,927 495 26,480 690 304 3,414 3,773 37,595 301,765 660 665 670 301,765

Answer 1

Prepaid advertising Date June 1 Balance Details Post ref. Debit Date 586 June 30 Details Advertising expense Post ref. 605 Credit 293 Prepaid insurance Date June 1 Balance Details Post ref. Debit Date 2127 June 30 Details Insurance expense Post ref. 625 Credit 709 Accumulated depreciation-motor vehicles Date Details Post ref. Debit Post ref. Date Details June 1 Balance 30 Depreciation Credit 12137 3858 615 Accumulated depreciation-store equipment Date Details Post ref. Debit Post ref. Date Details June 1 Balance 30 Depreciation Credit 11360 3275 615 Superannuation payable Date Details June 17 Cash Post ref. Post ref. CP)12 Debit Date Details 243 June 1 Balance 30 Superannuation expense Credit 243 243 660 Wages payable Date Details Post ref. Debit Date Details June 30 Wages expense Post ref. 670 Credit 1238

Bank loan
Date	Details	Post ref.	Debit	Date	Details	Post ref.	Credit
June 20	Cash	CPJ12	980	June 1	Balance		18715
				30	Interest expense	630	87
Advertising expense
Date	Details	Post ref.	Debit	Date	Details	Post ref.	Credit
June 1	Balance		3730
30	Prepaid advertising	150	293
Depreciation
Date	Details	Post ref.	Debit	Date	Details	Post ref.	Credit
June 30	Accumulated depreciation- motor vehicles	171	3858
30	Accumulated depreciation- store equipment	181	3275
Insurance expense
Date	Details	Post ref.	Debit	Date	Details	Post ref.	Credit
June 1	Balance		1827
30	Prepaid insurance	160	709
Interest expense
Date	Details	Post ref.	Debit	Date	Details	Post ref.	Credit
June 1	Balance		932
30	Bank loan	280	87
Superannuation expense
Date	Details	Post ref.	Debit	Date	Details	Post ref.	Credit
June 1	Balance		3414
30	Superannuation payable	220	243
Wages expense
Date	Details	Post ref.	Debit	Date	Details	Post ref.	Credit
June 1	Balance		34557
3	Cash	CPJ12	1519
17	Cash	CPJ12	1519
30	Wages payable	160	1238

Mario's Pizza Palace
Worksheet
as at 30 June 20XX
Account	Account	Unadjusted trial balance		Adjustments		Adjusted trial balance
number		Debit	Credit	Debit	Credit	Debit	Credit
100	Cash	42350				42350
110	Cash float	450				450
120	Accounts receivable	679				679
130	Inventory-food	1366				1366
140	Inventory-packing	995				995
150	Prepaid advertising	586			293	293
160	Prepaid insurance	2127			709	1418
170	Motor vehicles (cost)	19290				19290
171	Accumulated depreciation-motor vehicles		12137		3858		15995
180	Store equipment (cost)	32750				32750
181	Accumulated depreciation-store equipment		11360		3275		14635
200	Accounts payable		14767				14767
210	PAYG withholding payable		1356				1356
220	Superannuation payable				243		243
230	Wages payable				1238		1238
280	Bank loan		17735		87		17822
300	Owner's capital		60275				60275
310	Owner's drawings	41127				41127
400	Sales income		183203				183203
410	Sales returns and allowances	48				48
420	Discounts received		522				522
430	Delivery income		31				31
500	Food purchases	55560				55560
510	Purchase returns and allowances		379				379
520	Packaging costs	14926				14926
530	Discount given	288				288
540	Freight inwards	77				77
600	Accountancy fees	1138				1138
605	Advertising expense	3730		293		4023
610	Bank charges	871				871
615	Depreciation			7133		7133
620	Electricity and gas expense	2970				2970
625	Insurance expense	1827		709		2536
630	Interest expense	932		87		1019
635	Motor vehicles expense	4927				4927
640	Printing, postage and stationery expense	495				495
645	Rent expense	26480				26480
650	Repairs and maintenance expense	690				690
655	Sundry expenses	304				304
660	Superannuation expense	3414		243		3657
665	Telephone expense	3773				3773
670	Wages expense	37595		1238		38833
		301765	301765	9703	9703	310466	310466