Paul services Trial Balance As At 30 June 2016
Account No	Account Name	Debit	Credit
101	Cash at Bank	123370.00
105	Accounts Receivable	41120.00
115	Supplies	2230.00
120	Prepaid Insurance	4460.00
135	Office Furniture	55800.00
137	Acc. Depreciation. - Furniture		0.00
140	Office Equipment	111600.00
141	Acc. Depreciation - Equipment		0.00
145	Store Equipment	167400.00
146	Acc. Depreciation - Equipment		0.00
170	Automobile	223200.00
171	Acc. Depreciation - Automobile		0.00
201	Accounts Payable		82240.00
201	Interest Payable		123360.00
201	Unearned revenue		27900.00
201	Loan Payable		11160.00
201	Mortgage Payable		223200.00
201	Paul's Capital		58823.00
201	Paul's Drawings	223.00
201	Revenue		223000.00
201	Advertising Expense	2500.00
201	Automobile Expense	5775.00
201	Depreciation Expense - Furniture	0.00
201	Depreciation Expense - Equipment	0.00
201	Depreciation Expense - Store Equipment	0.00
201	Depreciation Expense - Automobile	0.00
201	Insurance Expense	2100.00
201	Maintenance Expense	8750.00
201	Miscellaneous Expense	1155.00
201	Rent Expense	0.00
201	Supplies Expense	0.00
201	Utilities Expense	0.00
201	Interest Expense	0.00
		749683.00	749683.00

Adjustments

Item	Description
For the following:	Interest has accrued on the mortgage but not paid.
Amount:	$22,320
For the following:	Adjustment for the period.
Instructions:	Ending Supplies remains on hand
Ending Supplies inv.	$557.50
Instructions:	Prepaid insurance shows a total value remaining of
	$892.00
Depreciable Asset:	135
For the following:	Depreciation adjustment for the period.SL method
	Office Furniture
	life= 5	Residual value =0.00
Depreciable Asset:	140
For the following:	Adjustment for the period .SL method
	Office Equipment
	life= 5	Residual value =0.00
Depreciable Asset:	145
For the following:	Adjustment for the period. SL method
	Store Equipment
	life= 10	Residual value =0.00
Depreciable Asset:	170
For the following:	Adjustment for the period. SL method
	Automobile
	life= 10	Residual value =0.00
Instructions:	The portion of unearned revenue which is earned at the end of June.
	$13,950.00

Task

Note: please answer step wise and add heading . For ex step 2 , step 3, etc.

Step 2: Journalise the adjustment transactions (adjustments sheet) Step 3: post adjusting journal entries and complete the Worksheet Step 4: Create the Income Statements from the completed Worksheet Step 5: Journalise the closing entries Step 6: Create the changes in Equity and Balance sheet from the completed Worksheet