Q$5.$ Answer the following:

$5$A$.$ XYZ Centre Ltd$.$ was setup on July $1,20$XX$.$ Its trial balance as on July $31,20x$ is as follows:

XYZ Centre Ltd$.$

The following additional information is available:

$($a$)$ The swimming pool has an estimated life of five years, and the tennis court has an estimated life of eight years. Neither has any scrap value.

$($b$)$ The inventory of supplies on July $31$ is Rs$.1190$

$($c$)$ Subscription revenue of Rs$.1200$ is due from members who have been admitted on a provisional basis.

$($d$)$ Unearned subscription includes an amount of Rs$.300$ for July

$($e$)$ Staff salaries for the last week totaling Rs$.1290$ have not been paid.

$($f$)$ The local electricity company sent a bill for Rs$.280$ for July after the close of the month's transactions.

$($g$)$ Insurance premium of Rs$.1200$ was paid on a one$-$year policy effective from July $1.$

You are required to:

$($i$)$ Prepare adjusting entries

$($ii$)$ Prepare the July month Balance Sheet and Statement of Profit and Loss.

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