problem 2

The adjusted trial balance of K&C Ltd at 30 June is as follows.

Trial balance as at 30 June

Dr

Cr

Cash at bank

15,750

Accounts receivable

6,800

Office supplies inventory

600

Equipment

32,000

Accumulated depreciation - equipment

1,750

Accounts payable

1,840

Salaries payable

1,800

Interest payable

250

Rent revenue received in advance

500

Bank Loan

15,000

Share capital

23,500

Retained earnings

1,500

Dividends

600

Sales revenue

18,600

Rent revenue

12,000

Salaries expense

11,340

Rent expense

6,000

Depreciation expense - equipment

1,750

Supplies expense

900

Electricity expense

750

Interest expense

250

76,740

76,740

Required:

Prepare the closing entries at 30 June