Andy Harris owns Piano Tuning Service. The post-closing trial balance at 30 June 2016 is shown below. Ignore GST.

Account	Account number				Debit				Credit
Cash at bank Accounts receivable Prepaid insurance Supplies Motor vehicle Accumulated depreciation – motor vehicle Accounts payable Interest payable Bank loan A. Harris, Capital		1100 1200 1300 1400 1500 1510 2000 2100 2200 3000				$  4 200 3 520 460 680 42 800				$16 050 6 880 880 14 000 13 850
						$51 660				$51 660

Transactions completed during the year ended 30 June 2017 are summarised below:

1.  Tuning fees of $78 000 were receivable during the year; $42 700 of this total was received in cash. The remainder consisted of transactions on credit.

2.  Revenue from piano repairs was $48 700. Cash received totalled $33 500, and accounts receivable increased by $15 200.

3.  Supplies costing $820 were purchased during the year on credit.

4.  On 1 January 2017, Andy Harris paid $6000 off the bank loan plus interest of $1800. The interest payment consisted of $880 accrued up to 1 July 2016 and a further $920 which accrued for the period to 31 December 2016.

5.  Fuel for the vehicle cost $5200 in cash.

6.  Insurance on the vehicle, paid in advance, was $1260.

7.  Telephone expense of $1480 was paid.

8.  Accounts receivable of $47 800 were collected, and $4000 was paid on accounts payable.

9.  Andy Harris withdrew $48 000 cash from the business.

The following information relating to adjusting entries is available at the end of June 2017:

10. A physical count showed supplies costing $400 on hand at 30 June 2017.

11. Accrued interest on the bank loan is $420.

12. Insurance costing $1200 expired during the year.

13. Depreciation on the vehicle is $8700.

14. The June telephone account for $264 has not been paid or recorded.

Required

A. Open T accounts for the accounts listed in the post-closing trial balance and the accounts below. Insert beginning balances in the accounts as shown in the post-closing trial balance.

Account title	Account number
Telephone Expense Payable	2300
A. Harris, Drawings	3100
Profit or Loss Summary	3200
Piano Tuning Fees Revenue	4000
Piano Repairs Fees Revenue	4100
Fuel Expense	5000
Telephone Expense	5100
Supplies Expense	5200
Insurance Expense	5300
Depreciation Expense – Vehicle	5400
Interest Expense	5500

B. Prepare journal entries to record the transactions (numbers 1–9) completed in the year to 30 June 2017.

C. Post the entries to T accounts.

D. Prepare a 10-column worksheet.

E.  Prepare an income statement, statement of changes in equity and a balance sheet.

F.  Prepare and post the adjusting entries.

G. Prepare and post the closing entries.

H. Prepare a post-closing trial balance.