Required: 1. Prepare a post-adjustment trial balance for the year ended 30 June 2020. 2. Prepare the income statement for the business for the year ended 30 June 2020. 3. Prepare a statement of changes in equity for the year ended 30 June 2020. 4. Prepare a balance sheet as at 30 June 2020. CANADA TRUCK HERE DR CR Unadused Trial Balance at 30 June 2020 $ 5 Cash 40 700 Accounts receivable 71 800 O suples 3200 Trucks od Accumulated depreciation - Trucks 197000 Equipment 31000 Accumulated depreciation Equipment 17 500 Accounts payable 54000 Unearned revenue 27500 Capital Drawings 103.000 Revenue 490 500 Insurance expose 40 00 Wass expense 250 100 Advertising expense 19 400 Maintance expense 38.000 Fuel and oil expense 53.400 Additional information: a. Petrol purchased on credit for $3 400 and used during the last week in June has not been paid for or recorded. b. A physical count showed office supplies totaling 51 700 were still on hand at 30 June. c Depreciation for 1 year on the trucks amounts to $62 000, and the depreciation on the equipment is 54 900. d. The balance in the Advertising Expense account includes $3 000 prepayment for an advertising campaign beginning in July, e The balance in the Unearned revenue account includes $9 000 received in May for hire services completed in June. f. The June insurance premium of $3 500 is overdue and has not been recorded. An invoice has not been received 9 Wages earned but not paid amounted to $5 750. SOLUTIONS: Adjusted Trial Balance at June 2020 Dror Income statement Adjusted Trial Balance as at 30 June 2020 Dr Cr Income statement Statement of changes in equity Balance sheet Required: 1. Prepare a post-adjustment trial balance for the year ended 30 June 2020. 2. Prepare the income statement for the business for the year ended 30 June 2020. 3. Prepare a statement of changes in equity for the year ended 30 June 2020. 4. Prepare a balance sheet as at 30 June 2020. CANADA TRUCK HERE DR CR Unadused Trial Balance at 30 June 2020 $ 5 Cash 40 700 Accounts receivable 71 800 O suples 3200 Trucks od Accumulated depreciation - Trucks 197000 Equipment 31000 Accumulated depreciation Equipment 17 500 Accounts payable 54000 Unearned revenue 27500 Capital Drawings 103.000 Revenue 490 500 Insurance expose 40 00 Wass expense 250 100 Advertising expense 19 400 Maintance expense 38.000 Fuel and oil expense 53.400 Additional information: a. Petrol purchased on credit for $3 400 and used during the last week in June has not been paid for or recorded. b. A physical count showed office supplies totaling 51 700 were still on hand at 30 June. c Depreciation for 1 year on the trucks amounts to $62 000, and the depreciation on the equipment is 54 900. d. The balance in the Advertising Expense account includes $3 000 prepayment for an advertising campaign beginning in July, e The balance in the Unearned revenue account includes $9 000 received in May for hire services completed in June. f. The June insurance premium of $3 500 is overdue and has not been recorded. An invoice has not been received 9 Wages earned but not paid amounted to $5 750. SOLUTIONS: Adjusted Trial Balance at June 2020 Dror Income statement Adjusted Trial Balance as at 30 June 2020 Dr Cr Income statement Statement of changes in equity Balance sheet
