The business has the following opening balances Hair Styling Supplies Hair Styling Equipment Bank Loan (due 2022) Account Payable Motor Vehicle Account Receivable Cash At Bank Additional Information $782 Closing stock of hair styling supplies on 30/6 (S) Hair styling equipment scrap value (S) si 5,368 $26,318 503 4,412 Hair styling equipment Rent paid for (months) life (years) 8,509 $36,313Insurance paid for (months) S19.304Motor vehicle scrap value (S) S10,580Motor vehicle useful life (years) 3,111 Bank loan interest rates(% per year) Date 1-Jun Purchase books and magazines $67 I-Jun Hair styling fees- Cash S2,910 2-Jun Manicure services - Account S4,427 s-Jun Hair styling fees- Account $1,488 6-Jun Payment to Account Payable S494 7-Jun Advertising Expense -Cash $111 8-Jun Payment to Account Payable 1.02810-Jun Purchase hair styling supplies- account 292 12-Jun Facial services fees- Cash $70 13-Jun Cash Withdrawals by Owner $1,452 $623 15-Jun Staff Wages S159 16-Jun Advertising Expense -Account $325 19-Jun Cash Withdrawals by Owner S193 22-Jun Manicure services Cash 1,028 23-Jun Facial services fees - Cash 858 24-Jun Receive Payment from Account Customers $1,164 S1,339 $1,560 $955 $469 $1,442 $340 $1,708 $484 $1,383 S1,028 $651 $465 $819 $1,650 S1,057 S3,972 $1,028 1-Jum 3-Jun 6-Jun 6-Jun 8-Jun 8-Jun Staff Wages 11-Jun Motor Vehicle Expenses Paid General Insurance Rent of Business Premises Receive Payment from Account Customers Advertising Expense - Cash Motor Vehicle Expenses 13-Jun Purchase books and magazines 13-Jun Hair styling fees-Cash 15-Jun Advertising Expense - Account 16-Jun Sundry Expenses 18-Jun Purchase hair styling supplies- account 19-Jun Sundry Expenses 22-Jun Staff Wages 24-Jun Manicure services- Cash 25-Jun Hair styling fees Account 26-Jun Facial services fees- Cash 15-Jun Manicure services - Account S1,645 $1,580 25-Jun Additional cash contributed by owner Staff Wages 29-Jun Comments: hs sne s puchased on Joame You are required to prepare a general jounal entry to incorporate the opening balances into the current period, including the balancing capital figure You will need to refer to the Additional Information section for your adjusting entries. The rent and insurance period start on 1 June Show three types of revenue, namely hair styling services, manicure services and facial services. All revenues received were for the month of June. Unles otherwise indicated, all transactions are on a cash basis. Use one general Account Receivable for all debtors and one general Accourt Payable for all creditors. Your Balance Sheet should show assets and liabilities divided into current and non-current Staf work a 7-day week and are paid on the 8th day Assume all prepayments are initially recognised as an asset Acceunt coved rere Expen 10 Column Worksheet Proprietor: Ms. Nicole Coffeur Name: Description Hair and Beauty Salon Teenage StyleBag The business has the following opening balances: Hair Styling Supplies Hair Styling Equipment Bank Loan (due 2022) Account Payable Motor Vehicle Account Receivable Cash At Bank Additional Information: Closing stock of hair styling supplies on 30/6 (S) Hair styling equipment scrap value (S) 503 4,412 S15,368 S26,318 Hair styling equipment use useful life (years) S8,509Rent paid for (months) Insurance paid for (months) S19,304 S10,580 Motor vehicle scrap value (S) 3,111 Motor vehicle useful life (years) Bank loan interest rates Description Amount Amount S1,164 $1,339 1,560 1-Jun Purchase books and magazines 1-Jun Paid General Insurance 3-Jun Rent of Business Premises 6-Jun Receive Payment from Account Customers 6-Jun Advertising Expense Cash 8-Jun Motor Vehicle Expenses 8-Jun Staff Wages 11-Jun Motor Vehicle Expenses 13-Jun Purchase books and magazines 13-Jun Hair styling fees-Cash 15-Jun Advertising Expense Account 16-Jun Sundry Expenses 18-Jun Purchase hair styling supplies account 19-Jun Sundry Expenses 22-Ju Staff Wages 24-Jun Manicure services Cash 25-Jun Hair styling fees Account 26-Jun Facial services fees-Cash S67 -Jun Hair styling fees- Cash $2,910 4,427 S1,488 Ju Payment to Account Payable 2-Jun Manicure services - Account 5-Jun Hair styling fees Account S494 7-Jun Advertising Expense Cash S 8-Jun Payment to Account Payable $1,442 S340 $1,708 $484 S1,383 $1,028 S651 S1,028 0-Jun Purchase hair styling supplies account $292 Ju Facial services fees Cash S70 13-Jun Cash Withdrawals by Owner $1,452 5-Jun Manicure services-Account S623 15-Jun Staff Wages S159 16-Jun Advertising Expense Account S325 19-Jun Cash Withdrawals by Owner $193 2 Manicure services -Cash $819 S1,650 S1,057 3,972 1,028 S1,028 23-Jun Facial services fees Cash 858 24-Jun Receive Payment from Account Customers S1,645 25-Jun Additional cash contributed by owner S1,580 29-Jun Staff Wages Comments: This business was purchased on 1 June. You are required to prepare a general journal entry to incorporate the opening balances into the current period, including the balancing capital figure. You will need to refer to the Additional Information section for your adjusting entries. The rent and insurance period start on 1 June. Show three types of revenue, namely hair styling services, manicure services and facial services. All revenues received were for the month of June. Unless otherwise indicated, all transactions are on a cash basis. Use one general Account Receivable for all debtors and one general Account Payable for all creditors. Your Balance Sheet should show assets and liabilities divided into current and non-current. Staff work a 7-day week and are paid on the 8th day. Assume all prepayments are initially recognised as an asset. Teenage Strwaag . 10 Caum war kaheet Hair Styling Equipment Hair Styling Supplies Acc.Depn-Hair Styling Eqipment Hair Styling Revenue Manicure Revenue Facial Services Revenue Hair Styling Supplies Exp Books and Magazine Exp Subtotal Profit (Loss Total