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********************** Please help me answer questions 3***************************** Adrian Kay has recently graduated with a Bachelor of Commerce from Federation University and has decided to set

********************** Please help me answer questions 3*****************************

Adrian Kay has recently graduated with a Bachelor of Commerce from Federation University and has decided to set up his own business, Adrian Professionals, as a consultant to RSVP in Melbourne and Regional Victoria. Adrian has provided the transactions for the month of trading in June 2022.

Required:

1.

image text in transcribed

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*****Additional Information:

As at 30 June, $500 of office supplies has been consumed.

Utilities owning at balance date are $680.

Office equipment is depreciated at 10% per annum using the straight-line method.

Motor vehicle is depreciated at 20% per annum using the straight-line method.

Computer is depreciated at 30% per annum using the straight-line method.

Ignore GST and income tax.

3.Prepare the Balance Sheet (Statement of financial position) for the month of June 2022 for Adrian Professionals. (15 marks)

**************************Please help me answer questions 3*********************************

\begin{tabular}{|l|l|} \hline June & \\ \hline 1 & Adrian contributed $170,000 of his own funds into a business bank account. \\ \hline 2 & Paid $1,200 for insurance for 12 months. \\ \hline 2 & Adrian rented a small office shop in Churchill. He paid six-months' rent in advance totalling $18,000. \\ \hline 3 & Office equipment was purchased for $18,000 cash. \\ \hline 4 & Adrian acquired a motor vehicle for $30,000. An amount of $10,000 was paid in cash, with the remaining balance was paid on 90 day credit term. \\ \hline 4 & A six-month subscription for access to international professional journals was purchased for $3,600 cash. \\ \hline 6 & Office supplies was purchased for $860 on 30 -day credit terms. \\ \hline 7 & Adrian invoiced his first client, ABC Ltd, $2,000 for one day's consulting service. \\ \hline 13 & Adrian contributed his own Laptop Computer valued at $3,600 to the business. \\ \hline 15 & Hired an assistant, Lisa, on a casual contract basis. \\ \hline 16 & Adrian invoiced AAA Ltd and BBB Ltd $3,500 for the consulting service. \\ \hline 18 & Received a full payment from his first client, ABC Ltd. \\ \hline 20 & Adrian invoiced clients $4,800 for consultation service. \\ \hline 20 & Adrian withdrew $2,400 for his personal use. \\ \hline 21 & Paid $1,200 wages to his assistant. \\ \hline 22 & Received $2,500 from the credit customer, AAA Ltd. \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline 25 & Gippsland RSVP, has agreed to retain Adrian's services as a research consultant in in the future at a rate of $2,200 per day. \\ \hline 26 & Adrian invoiced a range of clients for work performed $7,200. \\ \hline 27 & Paid $1,000 wages to his assistant. \\ \hline 27 & Paid telephone and internet bill for June of $320. \\ \hline 28 & Adrian withdrew $2,800 from the business for following purposes: \$1,200 was for one-off payment for professional membership joining fees to Australian Health Association, and the $1,600 was for his personal trip to Gold Coast for a holiday later in the year. \\ \hline \end{tabular}

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