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show me the calculation also please, thanks a lot -Accounting Principles & Question2 (9 marks) Solo Ltd began operations on 1 June 2013. The trial
show me the calculation also please, thanks a lot
-Accounting Principles & Question2 (9 marks) Solo Ltd began operations on 1 June 2013. The trial balance at 30 June is as follows SOLO LTD Trial Balance as at 30 June 2013 Assets Cash Accounts receivable Prepaid insurance Supplies Delivery van Accounts payable Service revenue received in advance Share capital Service revenue Salaries expense Rent expense Dr 7,750 6,000 2,400 2,000 25,000 Cr 4,500 4,000 31,750 7,900 4,000 1,000 48,150 48,150 Other information 1. Supplies on hand at 30 June total $1,300 2. The insurance policy is for 1 year 3. Services were performed during the month in relation to $2,500 of Revenue Received in Advance 4. Salaries of $3,000 are paid fortnightly. The 30 June is on Thursday. Salaries will not be 5. The delivery van is depreciated using the reducing balance method. The van has a residual 6. Invoices representing $3,000 of services performed during the month have not been paid until Friday 8 July value of $5,000 and is depreciated at the rate of 30% per annum recorded as of 30 June Required Record the above adjusting entries in the General Journal (6 x 1.5 9 marks)Step by Step Solution
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