Question

Item No. Date General journal Debit Credit 1. Jun 30 30 2. 30 3. :36 Present the accounts in the following order: Assets, Liabilities, Equity, Income and Expenses Roger & Rafa Adjusted Trial Balance as at 30 June 2018 Account Credit M Novak Murray is the sole owner of Roger & Bata, a store that offers tennis racquet stringing service (that involves the use of strings and laboup). The unadjusted trial balance of Roger & Raga as at 30 June 2018 is shown below. The annual reporting period for the business ends 30 June Additional information 1. A cash payment of $540 for rent covering the period 1 May 2018 to 31 July 2018 was made on 30 April 2018 and debited to the Rent Expense account on the day nadjust Balance as at 2. One customer, Naomi Stosur, purchased a S250 service package by cash on 5 May 2018. The package covers ten times of the use of the store's stringing service. No service was used at purchase. This transaction was credited to service revenue on the day of purchase Naomi had used the stringing service four times by the end of the reporting period. oger une 2018 Account Credit Debit ash at Bank Accounts Receivable String Supplies Stringing Machines $18 000 3.The unpaid salaries earned by the store's two sale assistants, Alex 840 and Ashleigh, totaled $780 as at 30 June 2018. Ignore depreciation. The use of string supplies in the period has been accounted for 23 400 Required ccounts Pava Novak Murray, Capita Novak Murray, Drawings 38 600 (a) Prepare the journal entries required to correct recording errors (if any, leave blank if there are no errors) (b) Prepare adjusting entries (after correction of errors, if any) (c) Prepare the Adjusted Trial Balance for Roger & Rafa. For parts (a) & (b), provide your answers to the related item number, no 500 tringing Service Revenue es Expense 260 narration required.) Rent Expense 2980 String Supplies Expense $61 320 61 320 Item No. Date General journal Debit Credit 1. Jun 30 2. 30) 3. 30

Answer 1

Ques 1
Item No.	Date	General Journal	Debit	Credit
1	Jun-30	Prepaid rent	540
		rent expense		540
		(covering the july prepaid expense)
2	Jun-30	Stringing service revenue	250
		unearned stringing service revenue		250
3	Jun-30	no entry
ques 2 adjusting entries
Item No.	Date	General Journal	Debit	Credit
1	Jun-30	Rent expense	360
		prepaid rent		360
		(covering the july prepaid expense)
2	Jun-30	unearned stringing service revenue	100
		Stringing service revenue(250*4/10)		100
3	Jun-30	Salaries expense	780
		salaries payable		780
ques 3		Trial balance
		Account	debit	credit
		Cash at bank	18000
		Accounts receivable	3200
		Prepaid rent	180
		string supplies	5840
		stringing machines	23400
		Accounts payable		1300
		Unearned stringing service revenue		150
		Salaries payable		780
		Novak murray capital		38600
		Novak murray drawings	2500
		stringing service revenue		21270
		Salaries expense	4040
		Rent expense	2800
		String supplies exepense	2140
		total	62100	62100