The question is to make a general journal. Could anyone help me to solve this question! THANK YOU !!!!!
Proprietor: Name: Description: Mr. M. Woodwin Realtor21 Real Estate Agent Additional Information: Bank loan interest rates (% per year) Motor vehicle useful life (years) Motor vehicle scrap value (S) Insurance paid for (months) Rent paid for (months) Furniture useful life (years) Furniture scrap value ($) Closing stock of promotional materials 30/6 (S) The business has the following opening balances: Promotional Material Supplies Furniture Bank Loan (due 2022) Account Payable Motor Vehicle Account Receivable Cash At Bank $538 $29,249 $22,062 S8,702 $36,244 S16,163 $16,670 10 2,952 863 Transactions: Date Description Advertising Expense - Cash Description Amount Date Amount S2,605 1-Jun Paid General Insurance 2-Jun $379 Receive Payment from Account Customers $1,491 Rent of Business Premises $4,041 3-Jun 3-Jun 3-Jun Advertising placement fees - Cash S1,003 4-Jun Purchase promotional materials $343 Advertising placement fees - Cash $996 Motor Vehicle Expenses $264 4-Jun 4-Jun 7-Jun Rental commission - Cash $1,555 7-Jun Receive Payment from Account Customers S1,462 8-Jun Staff Wages $1,882 $1,341 11-Jun Auction commission - Cash Motor Vehicle Expenses 11-Jun $107 12-Jun Advertising Expense - Account $526 Rental commission - Cash $1,532 Purchase promotional materials 12-Jun 14-Jun $326 15-Jun Staff Wages $1,070 14-Jun Advertising placement fees - Account Auction commission - Account S1,341 $991 Rental commission - Account S1,434 15-Jun 16-Jun Cash Withdrawals by Owner Payment to Account Payable 17-Jun $418 19-Jun $1,277 $1,791 19-Jun Auction commission - Cash 19-Jun Cash Withdrawals by Owner $508 21-Jun Sundry Expenses $258 22-Jun Advertising Expense - Account $762 $903 22-Jun Staff Wages S1,341 22-Jun Auction commission - Account Payment to Account Payable Additional cash contributed by owner 24-Jun $1,017 24-Jun $3,621 25-Jun Sundry Expenses $185 Advertising Expense - Cash 25-Jun $321 28-Jun Rental commission - Account S1,310 29-Jun Advertising placement fees - Account S1,000 29-Jun Staff Wages S1,341 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 rental commission, auction commission and advertisement placement fees. 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
