Ben’s Patisserie had the following balances in its ledger at 30 June 2016.

Cash at bank Accounts receivable Inventory Prepaid insurance Office supplies on hand Furniture and fixtures Accumulated depreciation – furniture and fixtures Delivery equipment Accumulated depreciation – delivery equipment Accounts payable Loan payable (long-term) Ben Jamin, Capital Ben Jamin, Drawings

$24 362 102528 145600 7 872 4368 53040 14 560 62400 24960 36036 156000 38 527 37620

Sales revenue Sales returns and allowances Cost of sales Discount received Freight inwards Sales salaries expense Delivery expense Advertising expense Rent expense Office salaries expense Electricity expense Discount allowed GST payable GST receivable

$961400 13332 549744 11232 12480 91104 24400 35880 38200 45000 13400 9100 94820 67205

Ben’s Patisserie’s financial year ends on 30 June. During the year the accountant prepared monthly statements using worksheets, but no adjusting entries were made in the journals and ledgers. Data for the year-end adjustments are as follows:

1. Prepaid insurance, 30 June 2016    , $1312.

2. Office supplies on hand, 30 June 2016, $2324.

3. Depreciation expense for year, furniture and fixtures, $4820.

4. Depreciation expense for year, delivery equipment, $13 230.

5. Sales salaries payable but unrecorded, $3200.

6. Office salaries payable but unrecorded, $880.

Required

A. Prepare a worksheet for the year ended 30 June 2016.

B. Prepare an income statement for the year ended 30 June 2016.

C. Prepare a balance sheet as at 30 June 2016.

D. Make the necessary adjusting entries.

E. Make the closing entries.

F. Make any necessary reversing entries.