The trial balance of Wellington Dry Cleaners on 30 June is given here: 

The July transactions were as follows: 

Required

(a) Prepare a general ledger using T accounts. Enter the opening balances in the ledger accounts as of 1 July. Provision should be made for the following additional accounts: (310) Dividends, (400) Dry Cleaning Revenue, (500) Repair Expense, (510) Salaries Expense, and (520) Electricity Expense.

(b) Journalise the transactions. 

(c) Post to the ledger accounts, which you prepared in part (a).

(d) Prepare a trial balance on 31 July 2015.

(e) Prepare a statement of profit or loss for July and a classified statement of financial position as at 31 July 2015.

Transcribed Image Text:

WELLINGTON DRY CLEANERS Trial balance as at 30 June 2015 No. Account name 100 Cash 110 Accounts Receivable 120 Supplies 130 Equipment 200 Accounts Payable 210 300 Revenue Received in Advance Share Capital Debit $ 25064 21072 9688 51 900 $107 724 Credit $ 31756 3460 72508 $107724