e insert Draw Design Layout References Mailin (a) Por L Summary Cousulting Fees Revenne 38150 (2) Accounts receivable 4400 88 150 Salaries Eupense 31 520 (6) Por L Summary 5500 (6) Cash at bank (13) Salaries payable 32700 1180 32700 32700 (8) Cash at bank Electricity Expense 3 600 (b) Por L Summary 5503 3600 (7) Accounts payable Advertising Expense 3 360 b) Por L Summary 5504 3360 Depreciation Expense - Furniture and Equipment (12) Accum depreciation 4600 (b) Por L Summary 5505 4600 Rent Expense 14585 b) Por L Summary 5512 (14) Prepaid rent Office Supplies Expense 1560 b) Por L Suman 5513 (11) Office supplies Required (a) Prepare a 10-column worksheet for the rear ended 30 June 2020. (b) Prepare a Statement of Profit or Loss for the rear ended 30 June 2020. (ci Prepare a Statement of Changes in Equin for the year ended 30 June 2020. (d: Prepare a Statement of Financial Position as at 30 June 2020. lei Wake any necessary adjusting and closing entries for 30 June 2020 to lake any suitable reversing entries on 1 July 2020. (3) Prepare a post-closing trial balance as : 30 June 2020. [b: Do you thinl: Payuelan Professional Serrices is in good financial position? Analyze and explain (500 words) 160 Words e insert Draw Design Layout References Mailin (a) Por L Summary Cousulting Fees Revenne 38150 (2) Accounts receivable 4400 88 150 Salaries Eupense 31 520 (6) Por L Summary 5500 (6) Cash at bank (13) Salaries payable 32700 1180 32700 32700 (8) Cash at bank Electricity Expense 3 600 (b) Por L Summary 5503 3600 (7) Accounts payable Advertising Expense 3 360 b) Por L Summary 5504 3360 Depreciation Expense - Furniture and Equipment (12) Accum depreciation 4600 (b) Por L Summary 5505 4600 Rent Expense 14585 b) Por L Summary 5512 (14) Prepaid rent Office Supplies Expense 1560 b) Por L Suman 5513 (11) Office supplies Required (a) Prepare a 10-column worksheet for the rear ended 30 June 2020. (b) Prepare a Statement of Profit or Loss for the rear ended 30 June 2020. (ci Prepare a Statement of Changes in Equin for the year ended 30 June 2020. (d: Prepare a Statement of Financial Position as at 30 June 2020. lei Wake any necessary adjusting and closing entries for 30 June 2020 to lake any suitable reversing entries on 1 July 2020. (3) Prepare a post-closing trial balance as : 30 June 2020. [b: Do you thinl: Payuelan Professional Serrices is in good financial position? Analyze and explain (500 words) 160 Words e insert Draw Design Layout References Mailin (a) Por L Summary Cousulting Fees Revenne 38150 (2) Accounts receivable 4400 88 150 Salaries Eupense 31 520 (6) Por L Summary 5500 (6) Cash at bank (13) Salaries payable 32700 1180 32700 32700 (8) Cash at bank Electricity Expense 3 600 (b) Por L Summary 5503 3600 (7) Accounts payable Advertising Expense 3 360 b) Por L Summary 5504 3360 Depreciation Expense - Furniture and Equipment (12) Accum depreciation 4600 (b) Por L Summary 5505 4600 Rent Expense 14585 b) Por L Summary 5512 (14) Prepaid rent Office Supplies Expense 1560 b) Por L Suman 5513 (11) Office supplies Required (a) Prepare a 10-column worksheet for the rear ended 30 June 2020. (b) Prepare a Statement of Profit or Loss for the rear ended 30 June 2020. (ci Prepare a Statement of Changes in Equin for the year ended 30 June 2020. (d: Prepare a Statement of Financial Position as at 30 June 2020. lei Wake any necessary adjusting and closing entries for 30 June 2020 to lake any suitable reversing entries on 1 July 2020. (3) Prepare a post-closing trial balance as : 30 June 2020. [b: Do you thinl: Payuelan Professional Serrices is in good financial position? Analyze and explain (500 words) 160 Words e insert Draw Design Layout References Mailin (a) Por L Summary Cousulting Fees Revenne 38150 (2) Accounts receivable 4400 88 150 Salaries Eupense 31 520 (6) Por L Summary 5500 (6) Cash at bank (13) Salaries payable 32700 1180 32700 32700 (8) Cash at bank Electricity Expense 3 600 (b) Por L Summary 5503 3600 (7) Accounts payable Advertising Expense 3 360 b) Por L Summary 5504 3360 Depreciation Expense - Furniture and Equipment (12) Accum depreciation 4600 (b) Por L Summary 5505 4600 Rent Expense 14585 b) Por L Summary 5512 (14) Prepaid rent Office Supplies Expense 1560 b) Por L Suman 5513 (11) Office supplies Required (a) Prepare a 10-column worksheet for the rear ended 30 June 2020. (b) Prepare a Statement of Profit or Loss for the rear ended 30 June 2020. (ci Prepare a Statement of Changes in Equin for the year ended 30 June 2020. (d: Prepare a Statement of Financial Position as at 30 June 2020. lei Wake any necessary adjusting and closing entries for 30 June 2020 to lake any suitable reversing entries on 1 July 2020. (3) Prepare a post-closing trial balance as : 30 June 2020. [b: Do you thinl: Payuelan Professional Serrices is in good financial position? Analyze and explain (500 words) 160 Words Case Study The post-closing trial balance at 30 June 2019 of Payneham Professional Services is shown below. PAYNEHAM PROFESSIONAL SERVICES Post-Closing Trial Balance as at 30 June 2019 Account Account no. Debit Credit $ 14800 9440 1220 Cash at bank Accounts receivable Prepaid rent Orice supplies Furniture and equipment Accumulated depreciation - furniture and equipment Accounts payable Salaries payable Tat Chiang. Capital 1100 1101 1102 1106 11 TO 1111 2200 2201 3000 1320 28 720 $ 9720 5440 420 39920 $ 55 500 $ 55 500 Transactions completed during the year ended 30 June 2020 are summarised below. 1. Collections on accounts receivable totalled $82 060. 2. Consulting fees of $88 150 were receivable during the year. Clients are invoiced after services are provided and are given 30 days in which to pay. 3. Rent paid in advance was $14 580. 4. Office supplies were purchased during the year for $380 in cash and $420 plus GST on credit. 5. Tat withdrew $25 000 for private use. 6. Salary payments amounted to $31 940, of which $420 w23 for salaries accrued to the end of the year ending 30 June 2020. 7. Advertising totalling S3360 was purchased on credit. 8. Electricity expense of $3600 was paid. 9. Secounts payable of $2880 were paid. The following additional information should be considered for adjusting entries. 10. Unused office supplies on hand at the end of the year totalled S760. ll. Depreciation on the furniture and equipment is $4600. 12. Salaries earned but not paid amount to $1180. 13. Rent paid in advance in transaction 3. Rent for 6 months of $7190 plus GST rak paid in advance on 1 August and 1 February