Accounting

ELLIOT PAINTING SERVICES Worksheet (Partial) for the year ended 30 June 2019 Adjusted trial balance Income statement Balance sheet Account Debit Credit Debit Credit Debit Credit Cash at Bank 1 230 Accounts Receivable 75 600 Prepaid Rent 1 800 Office Supplies 8 320 Equipment 160 000 Accum. Depr. Equip't 25 000 Accounts Payable 54 000 Salaries Payable 8 760 Unearned Revenue 3 430 F. Elliot, Capital 101 500 F. Elliot, Drawings 22 000 Painting Revenue 219 650 Salaries Expense 106 000 Rent Expense 6 050 Depreciation Expense 8 040 Telephone Expense 4 020 Office Supplies Used 10 080 Sundry Expenses 9 200 $412 340 $412 340 Profit for the period Required: a) Complete the worksheet. (6 marks) b) Prepare the closing entries necessary at 30 June 2019, assuming that this date is the end of the entity's accounting period. (4 marks)