L Hume operates an appliance service business for refrigerators, washing machines, clothes dryers and dishwashers.

The trial balance and a number of adjustments for the year ended 30 June 2022 are shown in figure 11.40. You are required to prepare an 8-column worksheet and then use it to prepare an income statement and balance sheet.

Balance day adjustments on 30 June 2022 were as listed below.
• Depreciation of equipment at 20% p.a., to nearest $
• Depreciation of motor vehicle at 15% p.a., to nearest $
• Accrued salary for service assistant $2000 • Rent prepaid $800 • Accrual of interest expense $561.

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Trial Balance of L Hume as at 30 June 2022 Accounts Receivable Control GST Receivable Equipment Accumulated Depreciation Equipment Motor Vehicle Accumulated Depreciation - Motor Vehicle Bank Overdraft Accounts Payable Control Loan from W Denmeade Capital Drawings Fees from Repairs Purchase of Parts for Repairs Salary - Service Assistant Salary - Administration Motor Vehicle Expense Rent of Office Stationery Advertising Interest Expense GST Payable Telephone Computer and Web Expenses 1.620 1716 29 925 94 583 14 531 206 744 63 315 17 420 32 850 10 530 2843 3 794 2834 3 108 15 469 501 282 11 970 24 750 4 154 11 682 17 000 21 728 407 282 2716 501 282