N O R 5 V w X 6.36 Adjusting income, expense, asset and/or liability accounts ** Generate the adjustments needed to the income, expense, asset and/or liability accounts for Board LO2,4 Games Pty Ltd to reflect the following transactions in the entity's financial statements for the 12-month reporting period ended 31 December 2019 using the accrual system. (a) The fortnightly salaries and wages bill of $8400 for December 2019 is due to be paid on 1 January 2020. (b) The entity has $60 000 of office furniture and equipment with a $10000 residual value that it depreciates over five years on a straight-line basis. (c) A client owes $3500 for services rendered in December 2019, (d) Board Games Pty Ltd's utility services bill (water, telephone, electricity) for the quarter ended December 2019 has not yet been received. Based on previous bills, the quarterly expense is expected to be $1800. (e) Board Games Pty Ltd has a two-year subscription to a trade magazine at a cost of $1600. The subscription was paid on 1 March 2019. (1) A customer has commissioned work and paid $2500. As at 31 December 2019, the work has not been performed (g) Board Games Pty Ltd expects to lose a court case over a breach of contract. If it loses, the damages awarded could be in the range of $25 000 to $50 000 (h) Board Games Pty Ltd tendered for work totalling $12000 in November 2019. It has been advised that its tender is one of three being considered. (i) One of Board Games Pty Lid's clients was placed into liquidation in December 2019. This client owes Board Games Pty Ltd $1300. () Board Games Pty Ltd has a property with a carrying value of $155 000. An assessment has determined that its recoverable amount is $125 000. Paragraph Account Styles Editing Ver Debit Credit English (Australia) Focus me e to search e N a ON w BE ENG 5: 21/0 96 8. 8 9 W R T Y 4 S P 6 D F . K V B N M