I am bit confused with the Opening Balance in general ledger should I include the number from May or just leave them $0

1.0 The Chart of accounts Cash at Bank Accounts Receivable Supplies Prepaid Insurance Motor Vehicle Accumulated Depreciation - MV Accounts Payable Wages and Salaries Payable Unearned Revenue Interest Payable Loan Payable Your First Name, Capital Your first Name, Drawing Service Revenue Advertising Expense Bank Servicing Fee Bank Interest Expense Depreciation Expense Insurance Expense Rent Expense Repair & Maintenance Expense Wages and Salaries Expense Supplies Expense Travel Expense Utilities Expense Income Summary 2.0 Trial balance as at 31 May 2020 Your Name on Student ID Unadjusted Trial Balance as at 31 May 2020 CR DR $53,000 $20,000 $15,000 $50,000 SO $25,000 SO $30,000 $0 $0 $55,000 Accounts Cash at Bank Accounts Receivable Supplies Prepaid Insurance Motor Vehicle Accumulated Depreciation - MV Accounts Payable Wages and Salaries Payable Unearned Revenue Interest Payable Loan Payable Your First Name, Capital Your first Name, Drawing Service Revenue Advertising Expense Bank Servicing Fee Bank Interest Expense Depreciation Expense Insurance Expense Rent Expense Repair & Maintenance Expense Wages and Salaries Expense Supplies Expense Travel Expense Utilities Expense $30,000 $290,000 $35,000 $110 $0 $0 $13,000 $33,000 $15,000 $110,000 $0 $12,000 $4,890 $400,000 $400,000 T120 Mid-trimester: ACC700 PG - Principles of Accounting page 4 of 13 3.0 Transactions for the month of June 2020 & Year End Adjustments Transactions for the month of June 2020 YOU MUST USE YOUR OWN NUMBERS Date Transactions Amount 01/06/2020 Borrowed money from King's Own Bank. Interest rate is 12% per annum. (1% per month) 05/06/2020 The owner made additional investment into the business check account 05/06/2020 Paid cash for travel costs associated with consultation work 08/06/2020 Collected a partial payment on an outstanding account receivable 13/06/2020 Paid a partial payment on the open account 15/06/2020 Paid wages expense incurred 19/06/2020 Provided services to customers, received cash 20/06/2020 The owner made withdrawal from business account 23/06/2020 Paid rent for June 25/06/2020 Received a bill for Utilities used Account Payable 26/06/2020 Provided services on account 30/06/2020 incurred wages expense, to be paid on 2 July 2020 900.000 ? 15,0po ?2004 ? 3000 ? 500 ? 9.020 ? 8.000 22.500 ? 6000 33.000 ? 50 de 22.000 29.pdlo Year End Adjustments 30/06/2020 The interest on loan accrued Depreciation Expense for Motor Vehicle (purchased 1 July 2019. It has a useful life of 5 30/06/2020 years and no salvage value. The business uses a straight-line method) 30/06/2020 During the period the business used one third of supplies 30/06/2020 Prepaid insurance represents premiums for 1 year paid on 1 January 2020 Adjustment of unearned service revenue (half of the unearned revenue has been 30/06/2020 earned by 30 June 2020) 30/06/2020 Overlooked bank servicing fee ($10) withdrawn 4.0 General Journal Date Accounts Debit Credit 100.000 01/06/2020 03/06/2020 Cash at Bank Loan Payable Cash at Bank rifus Capital Travel Expense 15.000 05/06/2020 08/06/2020 200U 12.000 5000 L 13/06/2020 5.00 15/06/2020 qovu 9.000 19/06/2020 X2 8.000 20/06/2020 - Cash at Bank - Accaine Recellable. Accounts Payable Cash at Bank - Wago Expense Cash at Bank Cash at Bank senie Revenne Kith's Doraning Cash at Bank Rent Expense Cash at Rank Utilities Expense Veilities Payable Anwar Receivable Revenue. Wage Expense Wage payable 133.00 23/06/2020 25/06/2020 5000 26/06/2020 12.000 30/06/2020 .000 9.000 Lidl Ledger Cash at Bank Date 01/06/2020 LI/2020 Description Opening balance Debit 000 Credit Balance the Lame s ole 20 so kon! Pam GOOD 1902020 La SRS chi's Real ER Ending balance 30/06/2020 Debit Credit Balance Accounts Receivable Date Description 01/06/2020 Opening balance ash 1610 6/200 Ren 30/06/2020 Ending balance 1 2000 2002 2.000 Debit Credit Balance Supplies Date 01/06/2020 30/06/2020 Description Opening balance Ending balance 42000 2000 Debit Credit Credit Balance Prepaid Insurance Date 01/06/2020 30/06/2020 Description Opening balance Ending balance Debit Credit Balance Motor Vehicle Date 01/06/2020 30/06/2020 Description Opening balance Ending balance Debit Credit Balance Accumulated Depreciation - MV Date Description 01/06/2020 Opening balance 30/06/2020 Ending balance Accounts Payable Date 01/06/2020 Debit Description Opening balance CA Credit $25.000 25.000 420.000 DU US 06/2020 30/06/2020 Ending balance T120 Mid-trimester: ACC700 PG - Principles of Accounting ited by 11902182 at 28/04/2020 12:49:46 PM page 7 of 13