Q4 Adjusting entry On 1 December 2019 , Count On Us Pty Ltd invested $50,000 in a term deposit at Commonwealth Bank Interest is received after one year and the interest rate is 6 p a Instructions Record the adjusting entry for the year ending 30 June 2 020 by selecting the correct accounts and amounts that are debited and credited (4 marks) General Journal June 30 Select One Select account amount , Cash , Interest Receivable , Supplies , Prepaid Insurance , Prepaid Rent , Van , Accumulated Depreciation Van , Asset , Land , Accounts Payable , Interest Payable , Loan Payable , Contributed Capital , Retained Earnings , Interest Revenue , Expense , Depreciation Expense , Interest Expense , Wages Expense , Interest revenue , $1,000 , $1,500 , $1,750 , $12,000 , $50,000 Select Select account amount , Cash , Interest Receivable , Supplies , Prepaid Insurance , Prepaid Rent , Van , Accumulated Depreciation Van , Asset , Land , Accounts Payable , Interest Payable , Loan Payable , Contributed Capital , Retained Earnings , Interest Revenue , Expense , Depreciation Expense , Interest Expense , Wages Expense , Interest revenue , $1,000 , $1,500 , $1,750 , $12,000 , $50,000 Select Select account amount , Cash , Interest Receivable , Supplies , Prepaid Insurance , Prepaid Rent , Van , Accumulated Depreciation Van , Asset , Land , Accounts Payable , Interest Payable , Loan Payable , Contributed Capital , Retained Earnings , Interest Revenue , Expense , Depreciation Expense , Interest Expense , Wages Expense , Interest revenue , $1,000 , $1,500 , $1,750 , $12,000 , $50,000 Select Select account amount , Cash , Accounts Receivable , Supplies , Prepaid Insurance , Prepaid Rent , Van , Accumulated Depreciation Van , Asset , Land , Accounts Payable , Wages Payable , Loan Payable , Contributed Capital , Retained Earnings , Repair Service Revenue , Expense , Depreciation Expense , Rent Expense , Wages Expense , Service revenue , $1,000 , $1,500 , $1,750 , $12,000 , $57,000 q2 Adjusting entry At the end of the financial year (June 30, 2020), Count On Us Pty Ltd had used up a 12 month insurance policy originally recorded as an asset The insurance policy cost $7,000 on July 1, 2019 Instructions Record the adjusting entry for the year ending 30 June 2020 for Count On Us Pty Ltd by selecting the correct accounts and amounts that are debited and credited (4 marks) General Journal June 30 Select Select account amount , Cash , Accounts Receivable , Supplies , Prepaid Insurance , Prepaid Rent , Truck , Accumulated Depreciation Truck , Asset , Land , Accounts Payable , Wages Payable , Loan Payable , Contributed Capital , Retained Earnings , Repair Service Revenue , Expense , Depreciation Expense , Insurance Expense , Wages Expense , Service revenue , $100 , $2,000 , $7,000 , $9,000 Select Select account amount , Cash , Accounts Receivable , Supplies , Prepaid Insurance , Prepaid Rent , Truck , Accumulated Depreciation Truck , Asset , Land , Accounts Payable , Wages Payable , Loan Payable , Contributed Capital , Retained Earnings , Repair Service Revenue , Expense , Depreciation Expense , Insurance Expense , Wages Expense , Service revenue , $100 , $2,000 , $7,000 , $9,000 Select Select account amount , Cash , Accounts Receivable , Supplies , Prepaid Insurance , Prepaid Rent , Truck , Accumulated Depreciation Truck , Asset , Land , Accounts Payable , Wages Payable , Loan Payable , Contributed Capital , Retained Earnings , Repair Service Revenue , Expense , Depreciation Expense , Insurance Expense , Wages Expense , Service revenue , $100 , $2,000 , $7,000 , $9,000 Select Select account amount , Cash , Accounts Receivable , Supplies , Prepaid Insurance , Prepaid Rent , Truck , Accumulated Depreciation Truck , Asset , Land , Accounts Payable , Wages Payable , Loan Payable , Contributed Capital , Retained Earnings , Repair Service Revenue , Expense , Depreciation Expense , Insurance Expense , Wages Expense , Service revenue , $100 , $2,000 , $7,000 , $9,000 q3 Adjusting entry On 30 April 2020 , Count On Us Pty Ltd purchased new office equipment for $20,000 to use in running the virtual conference event The depreciation charge for the office equipment is $3,000 per year Instructions Record the adjusting entry for the year ending 30 June 2020 by selecting the correct accounts and amounts that are debited and credited (4 marks) General Journal June 30 Select Select account amount , Cash , Accounts Receivable , Supplies , Prepaid Insurance , Prepaid Rent , Equipment , Accumulated Depreciation Equipment , Asset , Land , Accounts Payable , Wages Payable , Loan Payable , Contributed Capital , Retained Earnings , Repair Service Revenue , Expense , Depreciation Expense , Rent Expense , Wages Expense , Service revenue , $500 , $750 , $3,000 , $12,000 , $20,000 Select Select account amount , Cash , Accounts Receivable , Supplies , Prepaid Insurance , Prepaid Rent , Equipment , Accumulated Depreciation Equipment , Asset , Land , Accounts Payable , Wages Payable , Loan Payable , Contributed Capital , Retained Earnings , Repair Service Revenue , Expense , Depreciation Expense , Rent Expense , Wages Expense , Service revenue , $500 , $750 , $3,000 , $12,000 , $20,000 Select Select account amount , Cash , Accounts Receivable , Supplies , Prepaid Insurance , Prepaid Rent , Equipment , Accumulated Depreciation Equipment , Asset , Land , Accounts Payable , Wages Payable , Loan Payable , Contributed Capital , Retained Earnings , Repair Service Revenue , Expense , Depreciation Expense , Rent Expense , Wages Expense , Service revenue , $500 , $750 , $3,000 , $12,000 , $20,000 Select Select account amount , Cash , Accounts Receivable , Supplies , Prepaid Insurance , Prepaid Rent , Equipment , Accumulated Depreciation Equipment , Asset , Land , Accounts Payable , Wages Payable , Loan Payable , Contributed Capital , Retained Earnings , Repair Service Revenue , Expense , Depreciation Expense , Rent Expense , Wages Expense , Service revenue , $500 , $750 , $3,000 , $12,000 , $20,000

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Question: Q4: Adjusting entry: On 1 December 2019 , Count-On-Us Pty Ltd invested $50,000 in a term deposit at Commonwealth Bank. Interest is received after one

Q4:

Adjusting entry: On 1 December 2019, Count-On-Us Pty Ltd invested $50,000 in a term deposit at Commonwealth Bank. Interest is received after one year and the interest rate is 6% p.a.

Instructions: Record the adjusting entry for the year ending 30 June 2020 by selecting the correct accounts and amounts that are debited and credited. (4 marks)

General Journal

June 30.	[ Select One] ["Select account/amount", "Cash", "Interest Receivable", "Supplies", "Prepaid Insurance", "Prepaid Rent", "Van", "Accumulated Depreciation Van", "Asset", "Land", "Accounts Payable", "Interest Payable", "Loan Payable", "Contributed Capital", "Retained Earnings", "Interest Revenue", "Expense", "Depreciation Expense", "Interest Expense", "Wages Expense", "Interest revenue", "$1,000", "$1,500", "$1,750", "$12,000", "$50,000"]		[ Select ] ["Select account/amount", "Cash", "Interest Receivable", "Supplies", "Prepaid Insurance", "Prepaid Rent", "Van", "Accumulated Depreciation Van", "Asset", "Land", "Accounts Payable", "Interest Payable", "Loan Payable", "Contributed Capital", "Retained Earnings", "Interest Revenue", "Expense", "Depreciation Expense", "Interest Expense", "Wages Expense", "Interest revenue", "$1,000", "$1,500", "$1,750", "$12,000", "$50,000"]
		[ Select ] ["Select account/amount", "Cash", "Interest Receivable", "Supplies", "Prepaid Insurance", "Prepaid Rent", "Van", "Accumulated Depreciation Van", "Asset", "Land", "Accounts Payable", "Interest Payable", "Loan Payable", "Contributed Capital", "Retained Earnings", "Interest Revenue", "Expense", "Depreciation Expense", "Interest Expense", "Wages Expense", "Interest revenue", "$1,000", "$1,500", "$1,750", "$12,000", "$50,000"]		[ Select ] ["Select account/amount", "Cash", "Accounts Receivable", "Supplies", "Prepaid Insurance", "Prepaid Rent", "Van", "Accumulated Depreciation Van", "Asset", "Land", "Accounts Payable", "Wages Payable", "Loan Payable", "Contributed Capital", "Retained Earnings", "Repair Service Revenue", "Expense", "Depreciation Expense", "Rent Expense", "Wages Expense", "Service revenue", "$1,000", "$1,500", "$1,750", "$12,000", "$57,000"]

Adjusting entry: At the end of the financial year (June 30, 2020), Count-On-Us Pty Ltd had used up a 12 month insurance policy originally recorded as an asset. The insurance policy cost $7,000 on July 1, 2019.

Instructions: Record the adjusting entry for the year ending 30 June 2020 for Count On Us Pty Ltd by selecting the correct accounts and amounts that are debited and credited. (4 marks)

General Journal

June 30.	[ Select ] ["Select account/amount", "Cash", "Accounts Receivable", "Supplies", "Prepaid Insurance", "Prepaid Rent", "Truck", "Accumulated Depreciation Truck", "Asset", "Land", "Accounts Payable", "Wages Payable", "Loan Payable", "Contributed Capital", "Retained Earnings", "Repair Service Revenue", "Expense", "Depreciation Expense", "Insurance Expense", "Wages Expense", "Service revenue", "$100", "$2,000", "$7,000", "$9,000"]		[ Select ] ["Select account/amount", "Cash", "Accounts Receivable", "Supplies", "Prepaid Insurance", "Prepaid Rent", "Truck", "Accumulated Depreciation Truck", "Asset", "Land", "Accounts Payable", "Wages Payable", "Loan Payable", "Contributed Capital", "Retained Earnings", "Repair Service Revenue", "Expense", "Depreciation Expense", "Insurance Expense", "Wages Expense", "Service revenue", "$100", "$2,000", "$7,000", "$9,000"]
		[ Select ] ["Select account/amount", "Cash", "Accounts Receivable", "Supplies", "Prepaid Insurance", "Prepaid Rent", "Truck", "Accumulated Depreciation Truck", "Asset", "Land", "Accounts Payable", "Wages Payable", "Loan Payable", "Contributed Capital", "Retained Earnings", "Repair Service Revenue", "Expense", "Depreciation Expense", "Insurance Expense", "Wages Expense", "Service revenue", "$100", "$2,000", "$7,000", "$9,000"]		[ Select ] ["Select account/amount", "Cash", "Accounts Receivable", "Supplies", "Prepaid Insurance", "Prepaid Rent", "Truck", "Accumulated Depreciation Truck", "Asset", "Land", "Accounts Payable", "Wages Payable", "Loan Payable", "Contributed Capital", "Retained Earnings", "Repair Service Revenue", "Expense", "Depreciation Expense", "Insurance Expense", "Wages Expense", "Service revenue", "$100", "$2,000", "$7,000", "$9,000"]

Adjusting entry: On 30 April 2020, Count-On-Us Pty Ltd purchased new office equipment for $20,000 to use in running the virtual conference event. The depreciation charge for the office equipment is $3,000 per year.

Instructions: Record the adjusting entry for the year ending 30 June 2020 by selecting the correct accounts and amounts that are debited and credited. (4 marks)

General Journal

June 30.	[ Select ] ["Select account/amount", "Cash", "Accounts Receivable", "Supplies", "Prepaid Insurance", "Prepaid Rent", "Equipment", "Accumulated Depreciation - Equipment", "Asset", "Land", "Accounts Payable", "Wages Payable", "Loan Payable", "Contributed Capital", "Retained Earnings", "Repair Service Revenue", "Expense", "Depreciation Expense", "Rent Expense", "Wages Expense", "Service revenue", "$500", "$750", "$3,000", "$12,000", "$20,000"]		[ Select ] ["Select account/amount", "Cash", "Accounts Receivable", "Supplies", "Prepaid Insurance", "Prepaid Rent", "Equipment", "Accumulated Depreciation - Equipment", "Asset", "Land", "Accounts Payable", "Wages Payable", "Loan Payable", "Contributed Capital", "Retained Earnings", "Repair Service Revenue", "Expense", "Depreciation Expense", "Rent Expense", "Wages Expense", "Service revenue", "$500", "$750", "$3,000", "$12,000", "$20,000"]
		[ Select ] ["Select account/amount", "Cash", "Accounts Receivable", "Supplies", "Prepaid Insurance", "Prepaid Rent", "Equipment", "Accumulated Depreciation - Equipment", "Asset", "Land", "Accounts Payable", "Wages Payable", "Loan Payable", "Contributed Capital", "Retained Earnings", "Repair Service Revenue", "Expense", "Depreciation Expense", "Rent Expense", "Wages Expense", "Service revenue", "$500", "$750", "$3,000", "$12,000", "$20,000"]		[ Select ] ["Select account/amount", "Cash", "Accounts Receivable", "Supplies", "Prepaid Insurance", "Prepaid Rent", "Equipment", "Accumulated Depreciation - Equipment", "Asset", "Land", "Accounts Payable", "Wages Payable", "Loan Payable", "Contributed Capital", "Retained Earnings", "Repair Service Revenue", "Expense", "Depreciation Expense", "Rent Expense", "Wages Expense", "Service revenue", "$500", "$750", "$3,000", "$12,000", "$20,000"]

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