Question 1 (30 Marks) Able and willing Consulting Pty Ltd provides consulting services to the finance industry. The unadjusted trial balance on 30 June 2019 below was prepared by the accountant. The following additional information is available at 30 June: 1. Unused office supplies on hand on 30 June totalled $370. 2. The Unearned Fees account includes $625 received for fees earned during June. 3. Office Equipment has a useful life of ten years with no residual value. No additions or disposals were recorded during the year. 4. Advertising costing $950 was consumed during the year. 5. The Directors declared a dividend of $6,000. 6. Accrued rent of $3,000 for the month of June 7. Salaries earned by employees but unpaid as at 30 June totalled $6 500. Credit ABLE AND WILLING CONSULTING PTY LTD Unadjusted Trial Balance as at 30 June 2019 Account Debit Cash at bank $ 16 060 Accounts receivable 14 230 GST receivable 1 470 Prepaid advertising 2 120 Office supplies 750 Office equipment 34 620 Accumulated depreciation Accounts payable Unearned fees GST payable Share Capital Retained Earnings Consulting fee revenue Rent expense 22 240 Salaries expense 72 500 Telephone expense 2 120 $166 110 $ 2 280 11 670 2 580 2 720 30 000 16 240 100 620 I $166 110 Required: A Prepare a 10-column worksheet for the year ended 30 June 2019. (19 marks) B. Prepare a statement of changes in equity. (5 marks) C. Journalise the closing entries. (6 marks) English (Australia Focus