Jackie Hunt is a sole proprietor based in Canberra. She provides ride-sharing services and delivery services to the residents of Canberra. She commenced her ridesharing services on April 1, 2022, to sustain her family amid growing costs of living. The following transactions occurred in the months of April, May, and June of 2022.

1. On 1st April, purchased a new vehicle from the dealership. The vehicle cost 27999 inclusive of GST. Jackie paid $5000 as a down payment and borrowed the remainder of $22,999.00 on a 12.99% interest rate-bearing car loan. The tenure of the loan is 5 years.

2. On 1st April, Jackie paid $1250 as a vehicle registration fee for 1 year to Access Canberra. The registration will expire on 31st March 2023.

3. On 1st April Jackie purchased a rideshare vehicle license from Access Canberra for $540. The rideshare license will expire on 31st March 2025.

4. On 2nd April 2022, Jackie registered her company Jackie Hunt Ridesharing Services Private Limited with the ATO and applied for the Australian Business Number. She also registered her company for GST.

5. Jackie is to pay $546 as an installment for the car loan every fortnight. The first payment will be deducted on the 15th of April 2022.

6. On the 3rd third April, Jackie purchased an annual comprehensive insurance policy for $1600 cash. The insurance policy will be renewable on an annual basis and will commence on the 1st of April 2022.

7. On the 3rd of April, for the purpose of bookkeeping, she purchased a laptop for $1300, a printer for $300, a mobile phone to run the ridesharing app for $2,199, a table, and a chair combined for $450. The laptop will be paid off in 4 equal fortnightly installments. The mobile phone is purchased on a plan for $104.99 a month and the plan will last for 3 years.

8. She commenced her ridesharing services on the 4th of April. The ridesharing company pays Jackie every Tuesday, for all the services that she has provided in the previous week. All proceeds are deposited directly to Jackies bank account.

9. Ridesharing company pays Jackie for 1 week starting on Monday at midnight and ending on Sunday at midnight.

10. The following Table 1 provides revenue information (exclusive of GST) for Jackie for the months of April, May, and June:

12/4/2022 $750.00

19/4/2022 $525.00

26/4/2022 $1,000.00

3/5/2022 $,250.00

10/5/2022 $1,100.00

17/5/2022 $1,500.00

24/5/2022 $1,700.00

31/5/2022 $1,500.00

7/6/2022 $,650.00

14/6/2022 $,430.00

21/6/2022 $1,600.00

28/6/2022 $1,250.00

11. Jackie earned the following amounts on the last four days of June for which she was not paid by the ridesharing company.

27/6/2022 $176.00

28/6/2022 $251.00

29/6/2022 $221.00

30/6/2022 $ 250.00

12. On 19th April, Jackie purchased water bottles and mints for servicing her customers for $175.00. She intended to use the water and mints over the next few months. On the same day, she purchased cleaning supplies such as tissue boxes, wipes, air fresheners, and plastic bags. The cost of cleaning supplies was $125.00.

13. The expenses incurred in driving the vehicle including fuel, services and maintenance, cleaning, and parking are also given in Table 2 below. The expenses are paid in cash and are inclusive of GST.

Date Expense Type Amount in AUD (inclusive of GST) Date Expense Type Amount in AUD (inclusive of GST)

11/4/2022 Fuel 79.50 19/5/2022 Car Wash 35.00

15/4/2022 Fuel 83.40 19/5/2022 Fuel 84.00

19/4/2022 Fuel 84.00 24/5/2022 Fuel 86.00

19/4/2022 Drinks and Mints 175.00 29/5/2022 Tire Punctured - Replaced 165.00

19/4/2022 Cleaning Supplies 125.00 29/5/2022 Fuel 84.00

23/4/2022 Car Wash 35.00 4/6/2022 Vehicle Service 485.00

24/4/2022 Fuel 85.00 4/6/2022 Fine - Picking Passengers from bus stop 176.00

30/4/2022 Fuel 85.00 4/6/2022 Fuel 86.00

5/5/2022 Vehicle Service 485.00 10/6/2022 Fuel 91.00

5/5/2022 Fuel 85.00 11/6/2022 Replaced Damaged Mirror 365.00

11/5/2022 Car Wash 35.00 16/6/2022 Fuel 86.00

11/5/2022 Fuel 85.00 21/6/2022 Fuel 86.00

28/6/2022 Fuel 96.00

14. On 30th June, Jackie had water and mints worth $121.00 and cleaning supplies worth of $96.

Requirements

1. Prepare and journalize the transactions and adjusting entries required on 30 June 2022, the end of the accounting period.

2. What are the journal entries required to discharge the GST liability? What is the amount of GST receivable by Jackie Hunt?

3. Post the transactions into T ledger accounts and prepare the adjusted trial balance for the Jackie Hunt Ridesharing Services.

4. Prepare the Statement of Financial Position and Statement of Financial Performance for the quarter ending on June 30, 2022 for the Jackie Hunt Ridesharing Services Pvt. Ltd.