Question

Marios Pizza Palace Practice Set Part 3 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 100 110 120 130 140 150 160 170 171 180 181 200 Debit 38,309 480 672 1,252 1,002 580 2,031 17,770 11,037 38,140 210 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 11,430 15,310 1,168 19,773 74,287 42,829 176,023 48 485 280 300 310 400 410 420 430 500 510 520 530 540 600 30 61,424 370 13,993 277 82 1,308

Answer 1

Prepaid advertising
Date	Details	Post ref	Debit	Date	Details	Post ref	Credit
Jun-01	Balance		580	Jun-30	Advertising expense	605	290
Prepaid insurance
Date	Details	Post ref	Debit	Date	Details	Post ref	Credit
Jun-01	Balance		2031	Jun-30	Insurance expense	625	677
Accumulated depreciation - Motor vehicles
Date	Details	Post ref	Debit	Date	Details	Post ref	Credit
				Jun-01	Balance		11037
				Jun-30	Depreciation	615	3554
Accumulated depreciation - Store equipment
Date	Details	Post ref	Debit	Date	Details	Post ref	Credit
				Jun-01	Balance		11430
				Jun-30	Depreciation	615	3814
Superannuation payable
Date	Details	Post ref	Debit	Date	Details	Post ref	Credit
Jun-17	Cash	CPJ12	271	Jun-01	Balance		271
				Jun-30	Superannuation expense	660	271
Wages payable
Date	Details	Post ref	Debit	Date	Details	Post ref	Credit
				Jun-30	Wages expense	670	1242
Bank loan
Date	Details	Post ref	Debit	Date	Details	Post ref	Credit
Jun-20	Cash	CPJ12	970	Jun-01	Balance		20743
				Jun-30	Interest expense	630	83
Advertising expense
Date	Details	Post ref	Debit	Date	Details	Post ref	Credit
Jun-01	Balance		3712
Jun-30	Prepaid advertising	150	290
Depreciation
Date	Details	Post ref	Debit	Date	Details	Post ref	Credit
Jun-30	Accumulated depreciation - Motor vehicles	171	3554
Jun-30	Accumulated depreciation - Store equipment	181	3814
Insurance expense
Date	Details	Post ref	Debit	Date	Details	Post ref	Credit
Jun-01	Balance		2064
Jun-30	Prepaid insurance	160	677
Interest expense
Date	Details	Post ref	Debit	Date	Details	Post ref	Credit
Jun-01	Balance		1090
Jun-30	Bank loan	280	83
Superannuation expense
Date	Details	Post ref	Debit	Date	Details	Post ref	Credit
Jun-01	Balance		3389
Jun-30	Superannuation payable	220	271
Wages expense
Date	Details	Post ref	Debit	Date	Details	Post ref	Credit
Jun-01	Balance		36198
Jun-03	Cash	CPJ12	1331
Jun-17	Cash	CPJ12	1331
Jun-30	Wages payable	160	1242