The adjusted trial balance shown below is for Tony Auto Parts at the end of its reporting period 30 June 2020.

Account Name

Adjusted Trial Balance

Debit $

Credit $

Cash at Bank

89 500

Accounts Receivable

50 000

Prepaid Rent

10 000

Plant

280 000

Accumulated. Depreciation Plant

125 000

Accounts Payable

35 000

Wages Payable

10 000

Unearned Sales Revenue

15 000

Capital

220 000

Sales Revenue

256 000

Drawings - Tony

1500

Wages Expense

185 000

Telephone Expense

10 000

Rent Expense

20 000

Depreciation Expense

15 000

Totals

661 000

661 000

Required

a)Prepare the required closing entries for Tony Auto Parts for the year ended 30 June 2020. Narrations are required.(13 Marks)

b)Prepare Tony's Capital account using the T-account provided below.(2 Marks) (Total 15 Marks)

Tony, CapitalDate

Explanation

Amount ($)

Date

Explanation

Amount ($)