From the following 30/6/2022 Trial Balance you are to:

1. Prepare the closing journals, including appropriate NARRATIONS to each entry.
2. Prepare the Trading, Profit & Loss, and Capital General Ledger Accounts.

*Note: the first narration "Trading revenue transferred" is given as an example, so make sure to include appropriate narration to each journal entry.

Brisbane Camping World

Trial Balance as at 30 June 2022

Account Name	DR	CR
Cash at Bank	3,106
Accounts Receivable	10,388
Inventory	9,348
Land & Buildings	101,000
Motor Vehicles	25,000
Plant & Machinery	21,000
Accounts Payable		3,000
GST Collected		12,011
GST Paid	13,738
Mortgage		41,000
Capital		124,476
Drawings	14,135
Sales		183,440
Cost of Goods Sold	110,802
Advertising	2,700
Bad Debts	1,200
Discount Allowed	1,407
Freight Out	1,846
General Expenses	18,912
Insurance	3,450
Electricity	2,487
Motor Vehicle Expenses	3,348
Wages & Salaries	17,070
Telephone Expenses	2,990
	363,927	363,927

format given:

General Journal
Date	Details	Debit	Credit
*(Trading revenue transferred)
(Trading expenses transferred)
( )
( )
( )
( )

General Ledger

Trading Account
Date	Details	DR	CR	BAL

Profit & Loss Account
Date	Details	DR	CR	BAL

Capital Account
Date	Details	DR	CR	BAL

Answer rating: 100% (QA)

Closing Journals 1 Transferring trading revenue to the Trading Account Date 3062022 Details Trading revenue transferred Debit Trading Account 183440 Credit Sales 183440 2 Transferring trading expenses ... View the full answer