Reference no: EM133183628
Question - The following is the (unadjusted) trial balance for Delta Pty Ltd for the year ended 30 June 2020.
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Delta Pty Ltd Trial Balance as at 30 June 2020
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Account Title
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Debit ($)
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Credit ($)
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Cash
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82,550
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Accounts Receivable
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81,500
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Supplies
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26,450
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Prepaid Insurance
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1,500
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Plant & Equipment
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28,400
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Accumulated depreciation - Plant & Equipment
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5,680
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Accounts Payable
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19,590
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Salaries Payable
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Unearned Service Revenue
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10,000
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Income Tax Payable
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3,175
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Bank Loan
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15,500
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Delta, Capital
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50,000
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Service Revenue
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150,250
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Electricity Expense
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2,500
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Salaries Expenses
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24,450
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Rent Expense
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1,800
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Postage and Telephone Expense
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3,250
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Interest Expense
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1,795
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Insurance Expense
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Depreciation Expense - Plant & Equipment
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Supplies Expenses
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254,195
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254,195
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Adjustment data at 30 June 2020:
1. Pre-paid insurance expired, $750.
2. Depreciation for the year, $2 840.
3. Accrued salary expense at 30 June 2015, $2 800.
4. Unearned service revenue still unearned, $5 000.
5. Supplies used during the year, $20 000.
Required - Answer all parts of this question in this paper.
1. How do you adjust journal entries.
(a) Enter the adjusting journal entries in the Adjustments columns of the Worksheet on page 7 and (b) complete the Adjusted Trial Balance columns.
2. You will need;
(a) the Income Statement
(b) the Statement of Changes in Equity and
(c) the classified Balance Sheet, in side-by-side or report form.
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