The unadjusted trial balance of Helena’s Hire Cars is shown below:
|
HELENA’S HIRE CARS Unadjusted Trial Balance as at 30 June 2016 |
|||||||||
|
Account |
Debit |
Credit |
|||||||
|
Cash at bank Accounts receivable GST receivable Office supplies Hire cars Accumulated depreciation – hire cars Office equipment Accumulated depreciation – office equipment Accounts payable Unearned hire fees GST payable H. Savva, Capital H. Savva, Drawings Hire fees revenue Insurance expense Wages expense Advertising expense Maintenance expense Fuel and oil expense |
$ |
8 140 12 860 1 500 640 93 600 6 200 20 600 8 180 50 620 3 880 7 600 10 680 |
$ |
39 400 3 500 10 800 2 260 3 240 66 600 98 700 |
|||||
|
$ |
224 500 |
$ |
224 500 |
||||||
Additional information
(a) Petrol purchased on credit for $680 plus GST of 10% and used during the last week in June has not been paid for or recorded.
(b) A physical count showed office supplies totalling $340 were still on hand at 30 June.
(c) Depreciation for 1 year on the hire cars is $12 400. Depreciation on the office equipment is $980.
(d) The balance in the Advertising Expense account includes $600 prepayment (net of GST) for an advertising campaign beginning in July.
(e) The balance in the Unearned Hire Fees account includes $1800 received in May for hire services completed in June.
(f) The June insurance premium of $700 plus GST is overdue and has not been recorded. A tax invoice has not been received.
(g) Wages earned but not paid amounted to $1150.
Required
A. Prepare a 10-column worksheet for the year ended 30 June 2016.
B. Prepare the income statement for the business for the year ended 30 June 2016.
C. Prepare a statement of changes in equity for the year ended 30 June 2016.
D. Prepare a as at 30 June 2016.
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