Question: I NEED HELP ASAP !!!!! Required Complete the following worksheet for the year ended 30 June 2021 using the unadjusted trial balance in the worksheet

I NEED HELP ASAP !!!!!

Required

Complete the following worksheet for the year ended 30 June 2021 using the unadjusted trial balance in the worksheet and the additional information provided below. (15 marks)

  1. The prepaid rent balance represents the rent paid on 1 June 2021 for June, July, and August 2021.
  2. Machinery costing $298,000 was purchased on 1 May 2021. The straight-line depreciation method is used. The equipment has a useful life of 8 years and a scrap value of $10,000. No depreciation was ever recorded.
  3. Two casual employees both worked 7 days in June 2021. The daily rate for each casual employee is $600. No wages are recorded or paid.
  4. 60% of unearned revenue was earned but not recorded by the end of the financial year.
  5. A stocktake shows there were supplies on hand costing $4,200.

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Trial Balance (Unadjusted) Adjustments Trial Balance (Adjusted) Income Statement Balance Sheet
Account title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash at bank 85,000
Accounts receivable 205,000
Prepaid rent 9,600
Supplies 6,200
Machinery 298,000
Accounts payable 11,100
Unearned revenue 18,900
Bank loan (due in 2023) 150,000
Capital 299,700
Service revenue 556,100
Wages expense 432,000
1,035,800 1,035,800

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