Question 1 (Topic 4) - 10 marks

The unadjusted trial balance of Helena's Hire Cars is shown below (ignore GST).

Helena's Hire Cars Trial Balance

As at 30 June 2019

Account

Debit

Credit

Cash at bank

18,140

Accounts receivable

21,340

Office supplies

640

Prepaid advertising

3,880

Hire cars

93,600

Accumulated Depreciation - hire cars

39,400

Accounts payable

10,800

Unearned hire fees

2,260

Helena, Capital

68,340

Helena, Drawings

20,600

Hire fees revenue

98,700

Wages expense

50,620

Fuel and oil expense

10,680

219,500

219,500

Additional information

1. Petrol purchased on credit for $680 and used during the last week in June has not been paid for or recorded.
2. A physical count showed office supplies totalling $340 were still on hand at 30 June.
3. Depreciation for 1 year on the hire cars is $12,400.
4. Prepaid advertising has a balance of $600 at the end of the month.
5. The balance in the Unearned Hire Fees account includes $1,800 received in May for hire services
6. completed in June.

Required:

Prepare a 10-column worksheet for the year ended 30 June 2019.

Account Title

Cash at Bank Accounts Receivable Office Supplies Prepaid advertising Hire Cars

Accum. Depr. Hire Cars

Accounts Payable Unearned Hire Fees Helena, Capital Helena, Drawings Removal Fees Revenue

Wages Expense

Fuel and Oil Expense

Profit for the year

Debit

18,140 21,340 640 3,880 93,600

39,400

10,800 2,260 68,340

20,600

98,700

50,620

10,680

$219,50 00

Debit

Credit

Unadjusted trial balance

Adjustments

Adjusted trial balance

Income statement

Balance sheet

Credit

Debit

Credit

Debit

Credit

Debit

Credit

$219,50