If the last digit of your student ID number is $1,$ use this data sheet.

Proprietor: Name: Description:

Mr$.$ lsell Holmes Realtor $21$

Real Estate Agent

The business has the following opening balances:

Additional Information:

Bank loan interest rates $(\%$ per year$)11$ Motor vehicle useful life $($years$)2$ Motor vehicle scrap value $($$$)5,156$ Insurance paid for $($months$)2$ Rent paid for $($months$)5$ Furniture useful life $($years$)2$ Furniture scrap value $($$$)0$ Closing stock of promotional materials $30/6($$$)937$ Staff work a $14$ day fortnight and are paid on the $15$th day.

Cash At Bank

Account Receivable

Motor Vehicle

Account Payable

Bank Loan $($due $2026)$

Furniture

Promotional Material Supplies

Capital $?$

Transactions:

Date Description

$1-$Jun Advertising placement fees $-$ Cash $1-$Jun Paid General Insurance

$3-$Jun Advertising placement fees $-$ Cash $7-$Jun Motor Vehicle Expenses

$9-$Jun Purchase promotional materials

$14-$Jun Advertising Expense $-$ Account $15-$Jun Payment to Account Payable

$16-$Jun Auction commission $-$ Cash

$20-$Jun Rental commission $-$ Cash

$21-$Jun Advertising Expense $-$ Cash

$23-$Jun Additional cash contributed by owner $25-$Jun Rental commission $-$ Account

$26-$Jun Auction commission $-$ Account $29-$Jun Staff Wages

Comments:

$$19,610$ $$18,074$ $$34,288$

$$9,151$ $$25,638$ $$29,609$

$$588$

Amount Date $$9291-$Jun $$2,6203-$Jun $$9593-$Jun $$5738-$Jun $$60012-$Jun $$1,49615-$Jun $$52716-$Jun $$1,80319-$Jun $$1,60521-$Jun $$65421-$Jun $$4,64624-$Jun $$1,27825-$Jun $$80029-$Jun

$$2,565$

Description Advertising placement fees $-$ Account

Rent of Business Premises

Advertising placement fees $-$ Account Payment to Account Payable

Cash Withdrawals by Owner

Staff Wages

Auction commission $-$ Cash

Sundry Expenses

Auction commission $-$ Account

Receive Payment from Account Customers Rental commission $-$ Cash

Receive Payment from Account Customers Rental commission $-$ Account

Amount $$1,153$

$$3,046$ $$870$ $$794$ $$1,051$ $$2,565$ $$1,737$ $$215$ $$838$ $$1,804$ $$1,855$ $$1,006$ $$1,309$

$-$ Assume that this assignment involves an existing business that was

$-$ Note the list of transactions is in date order, left to right, line by line.

$-$ Use three separate ledger accounts for revenue, namely rental commission, auction commission and advertisement placement fees. All revenues relate to the month of June.

$-$ Transactions involve cash unless specified as 'Account'.

$-$ Record payments for rent and insurance in prepaid accounts initially.

$-$ Information relevant to complete adjusting entries can be found in the top right section of this page.

$-$ The periods to which the rent and insurance apply commence on $1$ June.

$-$ Round your calculations to the nearest dollar.