Answered step by step
Verified Expert Solution
Question
1 Approved Answer
CREDIT General Ledger Accounts Cash at Bank Accounts Receivable GST Outlays Mortgage Payable- Office Supplies Consulting Fees Revenue- Salaries Expense Acc. Depreciation Office Equipment Amount
CREDIT General Ledger Accounts Cash at Bank Accounts Receivable GST Outlays Mortgage Payable- Office Supplies Consulting Fees Revenue- Salaries Expense Acc. Depreciation Office Equipment Amount DEBIT $6000 $9260 $800 e $88600 $1140 e $156820 $87940 $6420 1212 Interest Expense Building GST Collections Telephone Expense- Office Equipment Alan Church Drawings Accounts Payable- Land Insurance Expense Accumulated Depreciation Building $2090 $1460002 $2000 e $1740 $13500 $52780 $7960 $25600 $1620 $43800 Church Capitale Unearned Consulting Fees Electricity Expense $42070 $1560 $760 TOTAL 2121212 The following Year-End Adjustments are required. Type in the correct descriptions and debits and credits for each account. 1. A stocktake of the Office Supplies identified that an amount of $725 worth of supplies was used during the year. 2. Depreciation expense - Building for the year was $8,760.- 3. Depreciation expense - Office Equipment for the year was $2,140 4. Insurance of $1620 was paid on the 1st February 2019. 5. Interest Payable for the period was $1704 Prepare the Adjusting Journal entries as at 30th June 2019. General Journal Description DEBIT Date 30 Jun 19 CREDIT e Description DEBIT CREDIT Date 30 Jun 19e e e e Description DEBIT Date 30 Jun 19e CREDIT Description DEBIT Date 30 Jun 19 CREDIT e Description DEBIT CREDIT Date 30 Jun 19 e ttt e le Prepare Church Energy Consulting Income Statement using the information from Part I and Part Il CHURCH ENERGY CONSULTING Income Statement for the year end 30th June 2019 INCOME Te le e e e els EXPENSES $ $ $ ($ PROFIT/LOSS $ e e e e
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started