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Please help! QUESTION 1 (20 marks) Flexi Solutions is in a business of selling masks, sanitizers and PPE equipment. They have a June 30 year
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QUESTION 1 (20 marks) Flexi Solutions is in a business of selling masks, sanitizers and PPE equipment. They have a June 30 year end. The bookkeeper is not sure how to record the year-end transactions stated below and has asked you for assistance. Transactions: 1. Depreciation for office equipment for the year amounting to R7 000. 2. A debtor who owes the business R800 was declared insolvent and his debt must be written off. 3. Flexi Solutions paid R4 500 for insurance cover for 18 months at the beginning of the financial year. 4. As at 30 June 20.21, salaries and wages amounting to R9 000 were still not paid nor recorded. 5. Flexi Solutions sub-lets part of its offices for a monthly rental of R300, there was no increase in the rental amount during the year. The tenant made a total rent payment of R5 000 during the year. REQUIRED Record the necessary journal entries for the above-mentioned year-end transactions in the general journal of Flexi Solutions for the year ended 30 June 20.19Step by Step Solution
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