Additional Information at $30$ June $2023$

Balance Day Adjustments

John has engaged an advertising firm at a cost of $$3,300($including GST$)$ per annum. The amount for a twelve month contract was paid on $1^{st}$ March $2023.$

Wages owing: $$2000.$

Increase the Provision for Annual Leave to be $5\%$ of the final wages expense for the period.

Depreciate Equipment at $20\%$ p$.$a$.$ using the diminishing value method.

Depreciate Motor vehicles at $12\mathrm{.}5\%$ using the straight line method.

Rent was received for a property John Franklin owns on $1^{st}$ April $2023$ and was for $12$ months.

Lawyers from ABC Ltd have sent through a notice to say that their client has been declared bankrupt and no amounts can be recovered from them. ABC Ltd still owed you an amount of $$990$ at Balance Day.

The Allowance for doubtful debts is to be $2\%$ of the final debtors figure.

Trial Balance as at ${30}^{th}$ June $2023$

Additional information required for closing entries only: stock of inventory ${30}^{th}$ June $2023$: $$5750.$

Required:

A$.$ Prepare General Journal entries to close the relevant ledgers on ${30}^{th}$ June $2023$ and post to General ledgers.

B$.$ Prepare a post$-$closing balance as at ${30}^{th}$ June $2023.$

c$.$ Prepare General Journal enteries to record the balance day adjustment as at ${30}^{th}$ June and Post to General LedgerS.