Question 4 (15 marks) How are the following assets and liabilities classified in a balance sheet? What principles are used to value each item? Vehicles Mortgage Land Accounts Payable Inventory Question 5 (12 marks) Blacktown Tyres has the following trial balance at 30 June 2015. Adjustments are required for : Unpaid Wages $600 Prepaid Insurance $200 Closing Inventory $28,000 Depreciation on Buildings $3,000 and on Vehicles $10,000 Complete the worksheet overleaf. ADDENDUM | @ 2019 YOUNG RABBIT PTY LTD. AUSTRALIAN PACIFIC COLLEGE BSB42015 CERTIFICATE IV IN LEADERSHIP AND MANAGEMENT | FINANCIAL REPORTING_V6.9 17 Blacktown Tyres Account Original Trial Adjustments Adjusted Trial Balance Balance Debit Credit Debit Credit Debit Credit Sales 275,000 Cost of Goods Sold 152,000 Discount Received 1,000 Rent Received 12,000 Vehicle Expenses 12,000 Wages 60,000 Salaries 16,000 Insurance 600 Super 5,400 Telephone 2,000 Interest Paid 1,000 Bank 9,000 Accounts Receivable 15,000 Inventory 30/6/05 26,000 Land 50,000 Buildings 100,000 Accumulated Depreciation Buildings 9,000 Vehicles 20,000 Vehicle 40,000 Accounts Payable 8,000 GST Collected 2,000 GST Paid 1,000 Mortgage 10,000 Capital 167,000 Drawings 14,000 Inventory 30/6/15 Accrued Expenses Depreciation Prepaid Expenses 504,000 504,000 Part A total: 47 marks