11:587 chegg.com Question: Owen Owner Owns Owner's Repairs. The Business Has Been Operating For Som... NEED HELP ANSWERING ALL THESE WITH WORKING!! Owen Owner owns Owner's Repairs. The business has been operating for some time. The current financial year is 1 July 2018 to 30 June 2019. Ar balance 31 of May 2015 has been prepared and is shown below. Ignore GST O. OWNER'S REPAIRS Trial Balance as at 31 May 2019 Number 3.254 18.500 14.900 Cash Bank Accounts Receivable Ofe Supplies Prepaid Advertising Delivery Van Accumulated Depreciation - Van Account Payable Uneamed Fees Bank Loan O Owner - Capital Owner Drawings Fee Revenue Delivery Van Expenses Rent Expense Wages Expense Telephone Expense Rates and True Expense 16.500 ENRROR 11 000 68,540 2020 1572 530 630 $ 137911513918 The blowing transactions (1-11) occurred during June 2019, which have not yet been recorded There are also a number of adjusting entries to be recorded (12-19 1. Repair foes of $4400 were earned during the month of those fees. $1,100 were received in cash. The balance consisted of transactions on credit 2. Supplies costing $1,320 were purchased on credit 3. Received $5,500 from customers for payment on account 4. Paid $220 for petrol for the delivery van 5. Purchased a one year insurance policy for the van for $3.960 6. Owen withdrew $3,300 b pay his children's school fees 7. Wages of $1,650 were paid & Paid $4620 to creditors for amounts owing This question hasn't been answered yet Ask an expert 11:58 chegg.com 9. Paid rent for the month for $1,320 10. Purchased some repair equipment. Paid cash of $2.200 and increased the bank loan by $4.400 pay for it 11. Repaired a customer's machinery to the value of $160 Customer to pay in 30 days The following information relates to adjusting entries at the end of June 2009 12. A physical count on the 30 June 2019 of the supplies on hand came to $715 13. Interest accrued on the bank loan came to $1320 14. Insurance costing $330 expired during the year. 15. Depreciation on the vehicle is $3.300 16. Wages accrued but not yet paid were $550 17. Performed repairs worth $3,850, where the customer had previous paid in advance 18. Performed pairs for $5.940. Customers have not yet been mod 19. A telephone account for $165. due in July was received Required A. Prepare journal entries to record transactions compted to 30 June 2019 (including the a sting entries. Narrations are required. Where you would normally show a date, you can use the number of each transaction 40 marks B. Open Taccounts for the business. Post the entries from part Abthe accounts and balance the accounts. You will need to balance of the accounts as part of your workings. However, for your submission only show properly balanced T-accounts for the billowing account - Cash Bank Accounts Receivable Prepaid insurance Fee Revenue Wages Expense 20 marts C. Prepare an adjusted Trial Balance 10 mars 0. Prepare an Income Statement, Statement of Changes in Eguyanda assified Balance Sheet for the year ending 30 June 2019 20 marts E Prepare closing entries for the year ending 30 June 2013. You are not required to post these to the ledger accounts The purpose of this assignment is to give you practice at preparing general al entries adjusting entries and financial statements . tis NOT acceptable to share files templates, or electronic s of sament questions with other students - this is an individual m ent and must be your own work Up to a 10% penalty may be applied for poor presentation Show transcribed image text Expert Answer Who are the experts? This question ha Experts are tested by Chegg as specialists in their subject area. We review their content and use your feedback to keep quality nian Ask