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give answer of 5 questions. Dr 19,870 47,980 3,100 3,900 2,800 3,200 28,450 Perfect Landscaping Unadjusted Trial Balance as at 31 May 2019 Account Cash
give answer of 5 questions.
Dr 19,870 47,980 3,100 3,900 2,800 3,200 28,450 Perfect Landscaping Unadjusted Trial Balance as at 31 May 2019 Account Cash at bank Accounts receivable GST receivable Prepaid rent Prepaid insurance Landscaping supplies Landscaping equipment Accumulated depreciation - Landscaping equipment Accounts payable Unearned fees Loan payable - due 30 May 2020 GST collections Capital Drawings Fees revenue Electricity expense Rent expense Salaries expense Telephone expense 8,740 3,160 3,140 28,000 8,430 58,300 42,360 142,380 5,840 17,400 68,790 8,460 Totals 252,150 252,150 June Transactions: Date Transaction Amount 1/6/2019 Receipts from customers from monies outstanding $16,400 15/6/2019 Receipts from customers from monies outstanding $8,540 22/6/2019 Received electricity bill $1,740 24/6/2019 Paid salaries for June $8,340 29/6/2019 Receipts from customers from monies outstanding $11,320 30/6/2019 June Sales (credit sales) $21,350 30/6/2019 Received bank interest $135 30/6/2019 Purchased motor vehicle using bank loan ($25,000) and cash. $41,500 30/6/2019 One customer was declared bankrupt during June. Their debt is judged to be $3,750 non-recoverable (a bad debt). additional Information: All sales are credit sales (30 days). Unless stated all amounts are GST inclusive or GST exempt. Interest expense of $210 has accrued on the loan payable. A physical count of landscaping supplies on 30 June shows $1230 of unused supplies on hand. Depreciation of the landscaping equipment this year is estimated to be $10,240. 25% of the amount in the Unearned Fees account had been earned by the end of June. The amount in the Prepaid Rent account covers June and the next 2 months. Of prepaid insurance, 30% expired this period. Salaries expense accrued for the last 4 days in June amounts to $1,950. The telephone expense for June of $820 has not been recorded or paid. Assignment Requirements: Consider the information provided for Perfect Landscaping and use Excel to: 1. Record the journal entries for June transactions. 2. Record adjusting entries for the end of June. 3. Construct the "T" formatted ledger accounts. 4. Prepare the profit and loss statement for the year ended 30th June 2019. 5. Prepare the classified narrative formatted balance sheet as at 30th June 2019. You must use formula to construct the ledger accounts, profit and loss statement, and balance sheet. The excel sheet must be linked to each other. You CANNOT just enter the data into the financial statements. You must enter the da once and link the excel sheets to produce the financial reportsStep by Step Solution
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