Cr:retainedet profit/p&l summary/purchases/ cash

Dr:inventory/depreciation expense/accumulated depreciation/cash/equipment

Given the information below, prepare the journal entries which are required (no dates or narrations required). For numbers please enter the number with no dollar signs, no spaces and no commas. For example, $10,000 should be written as 10000 (a) Blue Ltd is closing its accounts for the year ended 30 June 2021, and has started by preparing the following entries (assume this closes all the revenue and expense accounts for this company). [2 marks] 30/6/21 DR Sales Revenue 102,000 CR P&L Summary 102,000 DR P&L Summary 95,000 CR COGS 75,000 CR Wages Expense 15,000 CR Rent Expense 5,000 Complete the final entry of the closing process below. Select the correct account names for the CR entry and enter the amount for the CR entry (account and amount for DR not required). DR Account not required Amount Not required CR Amount (b) Green Ltd (a different company to the above question) is preparing the journal entry to account for the depreciation of equipment for the month of June. The equipment was purchased for $45,000, it expected to have a residual value of $15,000 and a useful life of 10 years [2 marks). Select the correct account name for the DR entry and enter the amount for the DR entry (account and amount for CR not required) DR Amount CR Account not required. Amount not required