Q1A

Question 1 Gemma Jones owns Australia Works, which provides employment placement services. The unadjusted trial balance on 30 June 2022 below was prepared by her accountant. The following additional information is available at 30 June: 1. Unused supplies on hand on 30 June totalled $180. 2. The Unearned Fees account includes $825 received for fees earned during June. 3. Estimated depreciation on the office equipment is $3,500. 4. Advertising costing $1,350 was consumed during the year. Required a) Prepare a 10-column worksheet for the year ended 30 June 2022. b) Journalise the closing entries. c) Explain the difference between accrual and deferral adjusting entries. Why is the 'Cash at bank' account never adjusted