1. An analysis of the accounts shows the following adjustments that need to be made as at 30 June 2022 for Beckham Consultancy Services.

a) Prepaid insurance expired at 30 June 2022 is $1,800.

b) Equipment depreciation at the end of the year 30 June 2022 is $1,500.

c) The unadjusted trial balance shows a balance of $5,600 in the Supplies Account before making the adjustments at the end of 30 June 2022. However, the supplies on hand at the end of 30 June 2022 are $2,400.

2. Presented below are some selected accounts of Bright Retail for the year ended 30 June 2022.

Cost of sales	$58,500
Sales discounts	$1,200
Sales returns and allowances	$900
Sales revenue	$100,000
Salary expense	$3,000
Rent expense	$2,500
Depreciation expense	$700
Interest expense	$200

3. David Knapp opened a retail business Knapp Retail on 1 March 2023. During the first month of operations, the following transactions occurred:

March	1	David invested $70,000 cash in the business.
	2	Purchased a retail stock worth $30,000 for resale on credit terms of 2/15, NET 30 Days.
	3	Purchased a cash register machine for $2,700 on account.
	10	Sold a retail stock for cash, $11,500. The cost of the retail stock sold was $6,500.
	17	Knapp Retail accepted the discount and settled the amount due on retail stock purchased on 2 March.
	20	Paid $2,000 salary for the assistant.
	31	Paid the utility bill for the month of March, $800.