ACF5950 Individual Assignment A Assignment #: 749 Proprietor: Mr. lsell Holmes Name: Realtor 21 Description: Real Estate Agent The business has the following opening balances: Cash At Bank Account Receivable Motor Vehicle Account Payable Bank Loan (due 2023) Furniture Promotional Material Supplies Capital Transactions: Date Description l-Jun Payment to Account Payable 2-Iun Receive Payment from Account Customers 3-Jun Rent of Business Premises 8-Jun Advertising placement fees - Cash 9-Jun Purchase promotional materials 15-Jun Staff Wages 17-Jun Cash Withdrawals by Owner 19-Jun Rental commission - Cash 19-Jun Receive Payment from Account Customers 20-Iun Advertising placement fees - Account 22-Jun Auction commission - Cash 25-Jun Payment to Account Payable 27-Jun Advertising Expense - Account 29-Jun Staff Wages Comments: $13,614 $24,879 $31,05 1 $8,750 $26,340 $20,275 $513 Amount $1,006 $1,501 $4,187 $958 $883 $2,888 $1,024 $1,830 $1,662 $984 $1,847 $1,486 $1,188 $2,888 Additional Information: Bank loan interest rates (% per year) 9 Motor vehicle useful life (years) 4 Motor vehicle scrap value (3) 3,924 Insurance paid for (months) 3 Rent paid for (months) 5 Furniture useful life (years) 2 Furniture scrap value ($1 0 Closing stock of promotional materials 30/6 ($) 885 Staff work a 14 day fortnight and are paid on the lSth day. Date Description Amount I-Jun Paid General Insurance $2,116 2-Jun Auction commission - Account $800 S-Jun Auction commission - Account $994 9-Jun Rental commission - Account $1,369 12-Jun Advertising Expense - Cash $628 16-Jun Motor Vehicle Expenses $313 18-Jun Advertising placement fees - Cash $1,009 19-Jun Advertising placement fees - Account $872 20-Jun Rental commission - Cash $1,951 21-Jun Auction commission - Cash $1,818 24-Jun Rental commission - Account $1,498 26-Jun Sundry Expenses $543 27-Jun Additional cash contributed by owner $2,694 - Assume that this assignment involves an existing business that was purchased by the new owner on 1 June 2020. - Note the list of transactions is in date order, left to right, line by line. - Use three separate ledger accounts for revenue, namely rental commission, auction commission and advertisement placement fees. All revenues relate to the month of June. - Transactions involve cash unless specied as 'Account'. - Record payments for rent and insurance in prepaid accounts initially. - Information relevant to complete adjusting entries can be found in the top right section of this page. - The periods to which the rent and insurance apply commence on 1 June. - Round your calculations to the nearest dollar