required.. 1. 10 column worksheet for the year ended 30 June 2020 2.statement of profit and loss account for the year ended 30 June 2020 3.statement of change in equity for the year ended 30 June 2020 4.statement of financial position30 June 2020 5.adjusting and closing entries for 30 June 2020 6.suitable reversing entries on July 1 7.post closing trial balance at 30 June 2020

Case Study The post-closing trial balance at 30 June 2019 of Payneham Professional Services is shown below. PAYNEHAM PROFESSIONAL SERVICES Post-Closing Trial Balance as at 30 June 2019 Account Account no. Debit Credit Cash at bank 1100 $14800 9440 Accounts receivable 1101 Prepaid rent 1102 1220 Office supplies 1106 1320 Furniture and equipment 1110 28 720 Accumulated depreciation furniture and equipment 1111 2200 Accounts payable Salaries payable Tat Chiang, Capital $ 9720 5440 420 39 920 2201 3000 $ 55 500 $55 500 Transactions completed during the year ended 30 June 2020 are summarised below. 1. Collections on accounts receivable totalled $82 060. 2. Consulting fees of $88 150 were receivable during the year. Clients are invoiced after services are provided and are given 30 days in which to pay. 3. Rent paid in advance was $14 580. 4. Office supplies were purchased during the year for $380 in cash and $420 plus GST on credit. 5. Tat withdrew $25 000 for private use. 6. Salary payments amounted to $31 940, of which $420 was for salaries accrued to the end of the year ending 30 June 2020. 7. Advertising totalling $3360 was purchased on credit. 8. Electricity expense of $3600 was paid. 9. Accounts payable of $2880 were paid. The following additional information should be considered for adjusting entries. 10. Unused office supplies on hand at the end of the year totalled $760. 11. Depreciation on the furniture and equipment is $4600. 12. Salaries earned but not paid amount to $1180. 13. Rent paid in advance in transaction 3. Rent for 6 months of $7290 plus GST was paid in advance on 1 August and 1 February