GEORGE LTD Trial Balances 30 June 2020 Before Adjustment Dr. Cr. $ 10,000 11,200 8,400 4,800 72,000 After Adjustment Dr. Cr $ 10,000 15,600 6,000 3,200 72,000 $ 5,200 10,800 40,000 Cash Accounts Receivable Prepaid Rent Supplies Motor vehicles Accumulated Depreciation- Motor vehicles Accounts Payable Notes Payable Interest Payable Salaries Payable Revenue Received in Advance Share capital Retained earnings Dividends paid Service Revenue Salaries Expense Electricity Expense Rent Expense Supplies Expense Depreciation Expense- Motor vehicles Interest Expense Totals $6,000 12,000 40,000 480 2,400 17,440 25,000 4,800 17,840 25,000 4,800 12,800 12,800 33,000 37,800 8,240 7,200 2,000 10,640 8,400 4,400 1,600 800 480 $136.640 $136.640 $145,920 $145.920 (a) Prepare, in journal form with narrations, the adjusting entries that explain the changes in the balances from the trial balance to the adjusted trial balance. (16 marks) (b) Prepare an Income Statement (also referred to as a Profit and Loss Statement) (5 marks) (c) Prepare a statement of Changes in Equity. (4 marks) (d) Prepared a classified Statement of Financial Position (also referred to as a Balance Sheet). (10 marks)