Produce a Trial Balance at 30 June (in the corrert order) using the following account balances. All balances are the normal balance of the account. Then answer the questions and produce the journals for the adjusting entries listed after your Trial Balance.

Accounts Payable	21,000
Accounts Receivable	9,000
Accumulated Depreciation	25,500
Bad Debt Expense	10,400
Bank Loan - Non current	35,500
Cash at Bank	30,600
Depreciation	20,000
Equipment	55,300
Insurance Expense	4,300
Owners Capital	30,000
Owners Drawings	4,200
Prepaid Rent	8,400
Rent Expense	59,700
Supplies Expense	8,300
Supplies on Hand	2,500
Subscriptions Revenue	100,700

All account descriptions must be exactly as they appear above. Expenses should be in alphabetical order. Do not include punctuation in numerical answers. All boxes must be completed - enter "0" (zero) where there is no other answer.

Trial Balance
Account	Dr	Cr
Answer	Answer	Answer
Answer	9000	Answer
AnswerSupplies on HandEquipment	Answer	Answer
Answer	Answer	Answer
Answer	Answer	Answer
Answer	Answer	Answer
Answer	Answer	Answer
Answer	Answer	Answer
Answer	Answer	30000
Answer	Answer	Answer
Answer	Answer	Answer
Answer	Answer	Answer
Answer	Answer	Answer
Answer	Answer	Answer
Answer	Answer	Answer
Answer	Answer	Answer
Total	Answer	Answer

Use the trial balance, above, to answer these three questions:

What is Total Assets (remember contra accounts) Answer

What is Net Profit / Loss Answer Include a negative before your answer to indicate a loss

Will Owners Equity increase or decrease? AnswerIncreaseDecrease

The following items have been identified as needing adjustment. Produce the journal in the proforma provided.

1. There were $1,200 Supplies used during of the period

Account			Dr	Cr
Answer			Answer	Answer
	Answer		Answer	Answer

2. Unused Prepaid Rent at the end of the period was $6,000

Account			Dr	Cr
Answer			Answer	Answer
	Answer		Answer	Answer

3. The business has been quoted $12,000 for insurance for the period 1 June to 30 November. The invoice has not been received. Take up the expense for June.

Account			Dr	Cr
Answer			Answer	Answer
	Answer		Answer	Answer