Please can you assist in completing the below journal entries:

30/6/2022	Delivery Vehicle (ie. Vehicle B) registration number 123-PJA (asset number 125, purchased1/7/2021 for $25,000 ex GST, estimated useful life 5 years, $0 residual value, 22.5% DV depreciation rate) stolen and destroyed by fire. Complete the disposal entries for this stolen asset. (Insurance implications are not to be considered for this transaction) (Record these journals in the Balance Day Adjustment journal area)
Balance Day Adjustments
30/6/2022	You have been notified that Delightful Diner has gone into liquidation. The unpaid balance relates to Invoice 7252 dated05/03/2022. Write off the amount owing, $1,680, as a bad debt. (Hint: When you write off the bad debt, remember the rule stated in the Accounting Standard AASB1031, refer to the theory question Q11)
30/6/2022	An adjustment entry for the prepaid cleaning contract -with Abbattoir Services Pty Ltd - $13,200 (included GST) was paid on 15/6/2022 for cleaning services covering 6 months period from1/6/2022 to30/11/2022. (Hint: Remember the rule stated in the Accounting Standard AASB1031, refer to the theory question Q11. In your calculation remember to consider these points: How much the prepaid expense was planned for each month, and how much prepaid expense had been utilized in the month of June, and how much prepaid expense remaining at end of June.)
30/6/2022	Wages need to be accrued for June	$1,100
30/6/2022	Depreciation to be recorded for the year for remaining assets (ie. the Equipment, and the Vehicle A). (Assume the opening Accumulated Depreciation is correct in the Depreciation Schedule).
30/6/2022	Closing inventory balance(ie. After stock take)	$36,900

AND the closing entries

General Journal
Date	Details	Folio	Debit	Credit
Part B	Closing Entries
30/6/2022
	(Write back open inventory)
30/06/2022
	(Trading revenue transferred)
30/06/2022
	(Close and trandfer to Trading)
30/06/2022
	(Stock take at 30 June 2022- record closing stock)
30/06/2022
	(Transfer gross profit to P & L account)
30/06/2022
	(Transfer other revenue to P & L account)
30/06/2022
	(Close and transfer other expenses to P & L account)
30/06/2022
	(Transfer net profit to capital)
30/06/2022
	(Close drawings to capital)

AND The depreciation Schedule:

Asset Register - Delivery Vehicle B
Asset Name:	Delivery Vehicle		Rego No.:	123-PJA
Asset No:		125
Date Purchased:		1/7/2021
Location:
Estimated Life:		5
Estimated Residual Value:		0
Depreciation Rate/Method:		22.50%	Date Sold/Disposed:	30/6/2022
Purchased From:			Disposal Value:	0
			Gain/Loss on disposal:
Date	Asset Cost	Depreciation	Accumulated Depreciation	Carrying Amount
1/7/2021	$ 25,000.00			$ 25,000.00
				$ -

Depreciation Schedule - all Assets - 30/6/2022
Asset Details	Date Purchased	Purchase Cost	Depreciation Rate	Depreciation Method	Days to Depreciate	Carrying Amount at Beginning	Opening Accumulated Depreciation	Depreciation Expense	Closing Accumulated Depreciation	Carrying Amount at End
Equipment
Shrink wrap Machine	5/11/2020	2,314.20	10%	SL- Straight Line		2,164.20	150.00
						2,164.20	150.00
Motor Vehicles
Delivery Vehicle A	1/7/2020	32,000	22.50%	DV- Diminishing Value		24,800.00	7,200.00
Delivery Vehicle B	1/7/2021	25,000	22.50%	DV- Diminishing Value		25,000.00				25,000.00
	Disposal of Delivery Vehicle B
						49,800.00	7,200.00	-	-	25,000.00

Below is the trial balance before any depreciation, balance day adjustments and closing entries.

Trial Balance at 30.6.22

Account Number	Account Name	DR	CR
1-1100	MyBank Cheque Account	29,749.57
1-1160	Petty Cash	120.00
1-2000	Accounts Receivable	31,658.40
1-3000	Inventory(Opening balance)	35,100.00
1-5100	Equipment at Cost	2,314.20
1-5200	Accumulated Dep'n - Equipment		150.00
1-5300	Delivery Vehicle at Cost	57,000.00
1-5400	Accum Dep'n- Delivery Vehicles		7,200.00
2-2000	Accounts payable		29,229.00
2-3010	GST Collected		3,606.85
2-3030	GST Paid	3,111.89
2-5010	PAYG Withholding		840.00
2-6100	Bank Loan - Vehicles		22,800.00
3-1000	Capital, S Golden		64,756.78
3-2000	Drawings, S Golden	1,155.00
4-1000	Sales		136,226.91
4-4000	Delivery Charges		780.00
4-5000	Interest Received		16.80
5-1000	Purchases	64,741.09
5-4000	Freight Paid on Purchases	360.00
6-1100	Delivery Vehicle Expenses	744.72
6-2000	Bank Charges	85.80
6-2200	Discount Expense	336.21
6-2300	Interest Paid	318.00
6-3000	Insurance Expense	752.40
6-3300	Admin Expenses	288.36
6-3350	Postage	17.45
6-3400	Telephone Expense	912.00
6-3550	Stationery	24.55
6-4000	Office Rent	6,750.00
6-4100	Abattoir Maintenance(Cleaning Expenses)	13,380.00
6-5000	Superannuation Expense	1,080.00
6-5100	Wages & Salaries Expense	15,600.00
6-5200	Staff Amenities	6.70
	Total	265,606.34	265,606.34

Answer rating: 100% (QA)

Depreciation Schedule All Assets 3062022 Equipment Shrink Wrap Machine Date Purchased 5112020 Purcha... View the full answer