Reference no: EM132807292

Problem 1: Make balance day adjustments for prepayments and accruals using the general journal.

Problem 2: Record the following balance day adjustment on 30th Jun 2011 using cheque.myo data file:

1. Advertising Expense includes $50, which relates to an advertising campaign in the next month
2. Business paid Insurance premium $1,000 on 1st Jun 2011 for the year till 31st May 2012.
3. Record depreciation for Office equipment - straight line at 10% p.a.
4. Telephone Expenses - $200 accrued. The next invoice will be received at the end of July
5. Services appliances includes $600, which is a client's deposit to secure appliances service in July.

Note: create new head of accounts in the chart of account if required.