Mario's Pizza Palace Trial balance as at 30 June 20XX
Account number		Account		Debit		Credit
100		Cash		41,295
110		Cash float		550
120		Accounts receivable		658
130		Inventory - food		1,319
140		Inventory - packaging		993
150		Prepaid advertising		626
160		Prepaid insurance		2,040
170		Motor vehicles (cost)		18,130
171		Accumulated depreciation motor vehicles				12,170
180		Store equipment (cost)		31,880
181		Accumulated depreciation store equipment				11,350
200		Accounts payable				15,034
210		PAYG withholding payable				1,178
280		Bank loan				18,464
300		Owners capital				40,289
310		Owners drawings		40,791
400		Sales income				199,605
410		Sales returns and allowances		53
420		Discounts received				503
430		Delivery income				30
500		Food purchases		58,456
510		Purchase returns and allowances				378
520		Packaging costs		13,596
530		Discount given		276
540		Freight inwards		73
600		Accountancy fees		1,107
605		Advertising expense		3,390
610		Bank charges		881
620		Electricity and gas expense		2,929
625		Insurance expense		1,925
630		Interest expense		1,075
635		Motor vehicles expense		5,435
640		Printing, postage and stationery expense		482
645		Rent expense		26,420
650		Repairs and maintenance expense		660
655		Sundry expenses		327
660		Superannuation expense		3,508
665		Telephone expense		3,676
670		Wages expense		36,450
				299,001		299,001

Adjusting journal entries are required for the following:

1.

Wages payable at the end of June are $1,283

2.

Transfer 1/3rd of the prepaid insurance to the expense account

3.

Transfer 50% of the prepaid advertising to the expense account

4.

Superannuation payable for June is $280

5.

Record depreciation for the year. Use the straight line (prime cost) method and the rates shown below:

a.		Motor vehicles 20%
b.		Store equipment 10%

6.

Interest charged on the bank loan for the month was $80

7.

The end of June stocktake has determined that the closing inventory value of food is $1,727 and packaging $4,348.