Using the information in your data sheet, you are required to

1. use an accounting worksheet to analyze transactions and performing balance-day adjustments for the months activities.
2. prepare financial statements: Income Statement, Balance Sheet, and Classified Statement of Cash Flows.

Proprietor Mr Isell Name Holmes Realtor 21 Description Real Estate Agent The business has the following opening balances.: Cash At Bank Accomt Receivable Motor Vehicle Account Payable Bank Loan (due 2013) Fumiture Promotional Material Supplies Additional Information Bank loan interest rates (% per year Motor vehicle useful life (years Motor vehicle scrap value ($) Insurance paid for (months) Rent paid for (months) Fuminire useful life (years) Fumiture scrap value ($ Closing stock of promotional matenals 30/6 ( Staft work a l4 day fortnight and are paid on the 15th day 10 $18.947 21.889 $30,693 $7.665 $28.876 26812 $532 5,108 Transactions: Descniption Descniption Amount Jun Advernising placement fees Account 5-Jun Rental commission Cash 7-Jun Auction commission Cash 3-Jun Sundry Expenses 10-Jun Renital commission Account 12-Jun Advertisine Expense -Account 15-un Auction commission Account 16-Jun Cash Withdrawals by Owner 18-Jun Advertising placement fees Account 19-Jun Advertising Expense- Cash 25-Jun Rental commission Account 26-Jun Payment to Account Payable 29-Jun Payment to Account Payable 1,031 S1.860 $1,729 $339 $1.348 $1.348 $985 $1.130 $937 S984 $1,417 $770 $1.119 $2428 $4056 $1042 1-Jun Paid General Insurance 3-Jun Rent of Business Premises 5-Jun Advertising placement fees- Cash 7-Jun Purchase promotional materials 8-Jun Motor Vehicle Expenses 11-Jun Advertising placement fees - Cash 15-Jun Receive Payment from Account Customers 15-Jun Staff Wages 17-Jun Receite Payment from Account Customers$1 47 18-Jun Auction commission -Account 23-Jun Auction commission Cash 26-Jun Rental commission- Cash 27-Jun Additional cash contnbuted by owner 29-Jun Staff Wages $569 $979 $1.095 $2248 $1 224 $1.788 3866 CommentS - Assume that this assignment involves an existing business that was purchased by the new owner on 1 June 2010 Note the list of transactions is in date order, left to night, line by line Use three separate ledger accounts for revemie, namely rental commission, auction commission and advertisement placement fees. All revenues relate to the month of June Transactions involve cash unless specified as Account - Record payments for rent and insurance in prepaid accounts initially -Information relevant to complete adjusting entries can be found in the top right section of this page. The periods to which the rent and insurance apply commence on 1 June Round your calculations to the nearest dollar