Bill Smith's Hire Cars' adjusted trial balance as at 30 June 2019 appears as shown below.

Required:

(a) Identify which accounts should be closed on 30 June 2019. Journalise the closing entries.

(b) Prepare an income statement for the period ending 30 June 2019.

(c) Prepare a statement of changes in equity for the period ending 30 June 2019.

(d) Prepare a balance sheet as at 30 June 2019.

745:42 81288 BE 77% 5 BILL SMITH'S HIRE CARS Adjusted Trial Balance as at 30 June 2019 Account Debit $ Credit $ Cash at bank 25 281 Accounts receivable 22 269 Prepaid insurance 6 480 Office supplies 2 025 Hire cars 354 150 Accumulated depreciation - hire cars 254 325 Accounts payable 30 600 Wages payable 2 385 Electricity payable 1 485 Unearned hire fees 28 440 B. Smith, Capital 84 195 B. Smith, Drawings 82 395 Hire fees revenue 330 210 Wages expense 118 635 Fuel and oil expense 22 170 Advertising expense 7 950 tenance expense 13 785 Depreciation expense 70 125 a I N D Insurance expense 6 375 $731 640 $731 640