ACC104 - Accounting for Business Decisions - Accounting Assignment Help

Assignment Task

The following information is supplied:

1. Expired insurance amounts to $850.

2. June electricity costs of $300 have not been paid or recorded. A tax invoice has been received.

3. Depreciation on the plant and equipment is $7,270.

4. The Rent Expense account contains $660 paid for July 2021 rent.

5. Salaries earned in June amounting to $540 will be paid in July but have not been recorded.

Required:

1. Using the information provided above, post all of the transactions to their relevant accounts. T-account format should be used and unadjusted opening and adjusted closing balances clearly indicated. All accounts must be clearly named. Do not construct T-accounts for those accounts unaffected by the adjusting entries and no accounts in addition to those above are required. 

2. Prepare an adjusted trial balance as at 30 June 2021.

3. Prepare an income statement for month ended 30 June 2021. 

4. Prepare a classified balance sheet as at 30 June 2021 

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