Question 1 (9marks)

The following trial balance was prepared from the ledger accounts of Singapore Enterprises, a service business.

Trial Balance as at 31 December 2018

	Debit $	Credit $
Cash at bank	3,360
Bank overdraft		6,120
Prepaid rent	5,400
Office equipment and fittings	224,400
Accumulated depreciation - office equipment		36,000
Accounts payable		23,520
GST payable		4,440
Accounts receivable	39,600
Income earned		294,000
Salaries expense	114,000
Internet expense	600
Utilities expenses	21,600
Administrative expenses	18,000
Interest expense	14,400
Capital 1 January 2016		113,280
Drawings	36,000
	477,360	477,360

Adjustments:

1. Rent expired for the year was $2,800.
2. Depreciation of office equipment is at 12.5% per annum using the straight-line method.
3. Salaries owing at 31 December 2016 were $3,500.

Required:

1. Prepare general journal entries for the balance day adjustments. Narrations are not required.
2. Prepare the worksheet for the year ended 31 December 2018.