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Make worksheet for the year ended june

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Reference no: EM132986250

Problem 1: Complete the following worksheet for the year ended 30 June 2021 using the unadjusted trial balance in the worksheet and the additional information provided below.

  • The prepaid rent balance represents the rent paid on 1 June 2021 for June, July, and August 2021.
  • Machinery costing $298,000 was purchased on 1 May 2021. The straight-line depreciation method is used. The equipment has a useful life of 8 years and a scrap value of $10,000. No depreciation was ever recorded.
  • Two casual employees both worked 7 days in June 2021. The daily rate for each casual employee is $600. No wages are recorded or paid.
  • 60% of unearned revenue was earned but not recorded by the end of the financial year.
  • A stocktake shows there were supplies on hand costing $4,200.

Reference no: EM132986250

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