From the following selected ending ledger balance extracted from the ledger book of Aman's Accounting Practice Pty Ltd during December 2019, prepare the unadjusted Ending Trial balance, adjusted Income statement and adjusted balance sheet for "Adam's Legal Practice Pty Ltd."

Aman's Accounting Practice Pty Ltd.

Ending Ledger Balance

31 December 2019

Account Title

Ending balance

Debit ($)

Credit ($)

Cash

343,700

Prepiad internet

100

Books & Stationeries

35,900

Prepaid Insurance

18,000

Prepaid Internet

$200

Land

35,000

Buildings

125,000

Equipment

66,000

Depreciation

2,000

Service Revenue

77,500

Salaries Expense

27,500

Rent Expense

7,500

Administrative Expense

10,000

Utilities Expense

2,500

Advertising Expense

10,800

Accounts Payable

30,700

Salaries Payable

12,500

Unearned Service Revenues

9,000

Mortgage Payable

70,000

Adam's Equity

500,000

Drawings

17,500

Total

1,399,000

Additional Adjustments need to be incorporated:

1.Depreciation expenses for building need to be recognized for $1,500.

2.Interest expenses incurred but not recognized amounting $500.

3.Prepaid internet plan expired and need to be recognized $100.

4.50% of the prepaid insurance expired.

5.$5,000 of unearned service revenues earned but not recorded.

Aman's Accounting Practice Pty Ltd.

Ending Ledger Balance

31 December 2019

Account Title

Debit ($)

Credit ($)

Cash

Prepiad internet

Books & Stationeries

Prepaid Insurance

Prepaid Internet

Land

Buildings

Equipment

Depreciation

Service Revenue

Salaries Expense

Rent Expense

Administrative Expense

Utilities Expense

Advertising Expense

Accounts Payable

Salaries Payable

Unearned Service Revenues

Mortgage Payable

Adam's Equity

Drawings

Total

[10 Marks]

Aman's Accounting Practice Pty Ltd.

Income Statement

31 December 2019

Account Title

Debit

Credit

Service Revenue

Salaries Expense

Rent Expense

Administrative Expense

Utilities Expense

Advertising Expense

Depreciation expenses

Interest expenses

Internet expenses

Insurance expenses

Net Profit

Total

[05 Marks]

Aman's Accounting Practice Pty Ltd.

Balance Sheet

31 December 2019

Account Title

Debit ($)

Credit ($)

Cash

Books & Stationeries

Prepaid Insurance

Land

Buildings

Equipment

Accounts Payable

Salaries Payable

Unearned Service Revenues

Mortgage Payable

Adam's Equity

Drawings

Net Profit

Total

[05 Marks]