Problem 5.26 Adjusting entries, financial statements, closing entries, reversing entries The trial balance shown below summarises the year's activities for Nova Caine's dental surgery. NOVA CAINE, DENTIST Unadjusted Trial Balance as at 30 June 2019 Debit Credit 5600 $ 610000 56 000 520 000 165000 Account Cash at bank Fees revenue Accounts receivable Equipment Accumulated depreciation - equipment Dental supplies Office supplies Nova Caine, Capital Nova Caine, Drawings Accounts payable Wages expense - dental assistants Rent expense Office expenses General expenses 142000 8000 357600 120 000 20000 142000 65 000 27 000 67 000 $1152 600 The following additional information should be considered. 1. Inventory of dental supplies on hand at 30 June is $16 400; $2400 office supplies are on hand. 2. Depreciate equipment at the rate of 15% p.a. on cost (5520 000). 3. Rent of $5000 has been paid in advance and has been debited to rent expense. 4. Wages earned by the dental assistants but unpaid, $1620. Required (a) Journalise the adjusting entries. (b) Journalise the closing entries. () Prepare an income statement, a statement of changes in equity and a balance sheet