The adjusted trial balance of Bedrock Bowling Alley (owned by Bruce Rock) at 30 June 2014,...
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The adjusted trial balance of Bedrock Bowling Alley (owned by Bruce Rock) at 30 June 2014, the end of the entity's accounting year, follows: BEDROCK BOWLING ALLEY Adjusted Trial Balance as at 30 June 2014 Account Cash at bank Accounts receivable Supplies Prepaid insurance GST outlays Bowling equipment Accumulated depreciation - bowling equipment Building Accumulated depreciation - building Accounts payable Interest payable Wages and salaries payable Unearned fees revenue GST collections Loan from ABC Bank Ltd (non-current) B. Rock, Capital B. Rock, Drawings Fees revenue Depreciation expense - bowling equipment Depreciation expense-building Wage and salaries expense Insurance expense Interest expense Electricity expense Council rates expense Supplies expense Debit $ 15660 77 220 11070 6870 6470 191 790 222 990 166 500 20100 9630 89 400 17 040 24510 17010 8830 21 300 $906 390 Credit $85 290 54780 58 650 7100 3620 10 980 15 020 233 700 138 600 298 650 $906 390 Additional data taken into account in the preparation of the above adjusted trial balance at 30 June 2014: 1. Supplies used during the year. $21 300. 2. Prepaid insurance expired during the year. $17040. 3. Accrued interest expense. $7100. 4. Fees revenue earned but not received. $8100. 5. Depreciation for the year: bowling equipment. $20 100: building, $9630. 6. Accrued wages and salaries expense, $3620. 7. Unearned fees revenue earned during the year, $15 540. Requirements: 1. Record Adjustments 2. Post to T-Ledger Accounts 3. Prepare adjusted trial balance 4. Closing Entries 5. Financial reports (Performance and Position Statements) The adjusted trial balance of Bedrock Bowling Alley (owned by Bruce Rock) at 30 June 2014, the end of the entity's accounting year, follows: BEDROCK BOWLING ALLEY Adjusted Trial Balance as at 30 June 2014 Account Cash at bank Accounts receivable Supplies Prepaid insurance GST outlays Bowling equipment Accumulated depreciation - bowling equipment Building Accumulated depreciation - building Accounts payable Interest payable Wages and salaries payable Unearned fees revenue GST collections Loan from ABC Bank Ltd (non-current) B. Rock, Capital B. Rock, Drawings Fees revenue Depreciation expense - bowling equipment Depreciation expense-building Wage and salaries expense Insurance expense Interest expense Electricity expense Council rates expense Supplies expense Debit $ 15660 77 220 11070 6870 6470 191 790 222 990 166 500 20100 9630 89 400 17 040 24510 17010 8830 21 300 $906 390 Credit $85 290 54780 58 650 7100 3620 10 980 15 020 233 700 138 600 298 650 $906 390 Additional data taken into account in the preparation of the above adjusted trial balance at 30 June 2014: 1. Supplies used during the year. $21 300. 2. Prepaid insurance expired during the year. $17040. 3. Accrued interest expense. $7100. 4. Fees revenue earned but not received. $8100. 5. Depreciation for the year: bowling equipment. $20 100: building, $9630. 6. Accrued wages and salaries expense, $3620. 7. Unearned fees revenue earned during the year, $15 540. Requirements: 1. Record Adjustments 2. Post to T-Ledger Accounts 3. Prepare adjusted trial balance 4. Closing Entries 5. Financial reports (Performance and Position Statements)
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Requirements 1 Record Adjustments Adjusting Journal Entries Date Account Debit Credit 20140630 Depreciation Expense Bowling Equipment 20100 Accumulated Depreciation Bowling Equipment 20140630 Deprecia... View the full answer
Related Book For
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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