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Proprietor: Ms, Nicole Coll'eur Name: Teenage StyleB-g Description: Hair and Beauty Salon The business has III: following opening balances: Hair Styling Supplies Hair Styling Equipment Bank Loan (due 2022) Account Payable Motor Vehicle Account Receivable Cash At Bank Mme-nous: Date I-Iun Description Paid General Insurance l-Jun J-Jun Manicure services - Account Rent of Business Premises 4~Jun Motor Vehicle Expenses S'Jun Stall\" Wages 9-Jun Purchase hair styling supplies account l2-Jun l4Jun l4-lun lS-Jun 18-Jun 2 1 Jun 22Jun 22-Jun 23-Jnn 24-Jun 25-Jun Advertising Expense - Account Hair styling recs ~ Cash Facial services fees - Cash Sundry Expenses Hair styling fees - Account Cash \\Vithdrawals by Owner Receive Paymait from Account Customers Su Wages Hair styling fees - Cash Purchase books and magazines Hair styling fees - Account Manicure services Cash 264m Comments: 5767 518.529 523.727 $9.05I $39,695 319.386 Si9,595 Additional Information: Closing stock of hair styling supplies on 30/6 (5) Hair styling cqutpmcnt scrap value (8) Hair styling equrpment useful life (years) Rent putt] for (months) Insurance paid {or (months) Motor vehicle scrap value (5) Motor vehicle useful life (years) Bank loan interest rates (% per year) Description Motor Vehicle Expenses Purchase hair styling supplies - account Payment to Account Payable Facial services foes - Cash Facial services fees - Cash Payment to Account Payable Purchase books and magazines Sundry Expenses Staff Wages Advertising Expense - Account Cash \"Withdrawals by Owner Advertising Expense - Cash Manicure sen/ices - Cash Advertising Expense Cash Manicure services - Account Additional cash contributed by owner Receive Payment from Account Customers Staff Wages 694 4.352 3.9\"! Amount 3288 $483 $700 $1,535 SL638 $349 563 Sin 5|,i I4 5652 5m 3335 S916 5313 Sun s4.I36 \".355 $1,114 This busincss was Warned on 1 June 2012. The current date is July 2012, therefore you are preparing financial statements for the period ending 30 June 20l2. you will need to refer to the Additional Information section for your adjusting entries. There is no requirement to make adjusting clinics for unearned income. The business is sta'ed 7 days/week and the level of stafng does not vary day to day. Therefore, the cost of wages does not vary by thy of the week Wages are paid for work performed up to the day before the day of payment. For example, wages owing for work performed on days i to 7 are paid on day S. The rent and insurance periods start on I June Unless otherwise indicated, all transactions are on a cash basis. Where an item description includes the word "Account". it means the transaction was on credit. \"0| cash It is essential that you underlund the real world meaning of the minsaction descriptions: if the meaning ofsny one of them is not clear, post a question on the Assignments dllCW'l'm \"mm" In completing the assignment. use one general AcoD prcplyjncnlg initially as \"5:15.310\