The trial balance for Mario's Pizza Palace at 30 June 20XX is presented below: Mario's Pizza Palace Trial balance as at 30 June 20xx Credit Account number 100 110 120 130 Debit 42,350 450 679 1,366 995 586 2,127 19,290 140 150 160 170 171 180 181 200 210 12,137 32,750 11,360 14,767 1,356 17,735 60,275 280 41,127 300 310 400 410 420 183,203 48 522 430 Account Cash Cash float Accounts receivable Inventory - food Inventory - packaging Prepaid advertising Prepaid insurance Motor vehicles (cost) Accumulated depreciation - motor vehicles Store equipment (cost) Accumulated depreciation - store equipment Accounts payable PAYG withholding payable Bank loan Owner's capital Owner's drawings Sales income Sales returns and allowances Discounts received Delivery income Food purchases Purchase returns and allowances Packaging costs Discount given Freight inwards Accountancy fees Advertising expense Bank charges Electricity and gas expense Insurance expense Interest expense Motor vehicles expense Printing, postage and stationery expense Rent expense Repairs and maintenance expense Sundry expenses Superannuation expense Telephone expense Wages expense 500 55,560 14,926 288 510 520 530 540 600 605 610 620 625 630 635 1,138 3,730 871 2,970 1,827 640 645 650 655 932 4,927 495 26,480 690 304 3,414 3,773 37,595 301,765 660 665 670 301,765 OFFICE MEMORANDUM Date: 30/06/20XX To: Maria Italiano SUBJECT: End of period adjustments Adjusting journal entries are required for the following: 1. Wages payable at the end of June are $1,238 2. Transfer 1/3rd of the prepaid insurance to the expense account 3. Transfer 50% of the prepaid advertising to the expense account 4. Superannuation payable for June is $243 5. Record depreciation for the year. Use the straight line (prime cost) method and the rates shown below: a. Motor vehicles - 20% b. Store equipment 10% 6. Interest charged on the bank loan for the month was $87 7. The end of June stocktake has determined that the closing inventory value of food is $1,775 and packaging $3,825. Signed: Accountant GENERAL JOURNAL Page: 20 Date Description Post ref. Debit Credit 20XX June 30 (Wages owing at 30 June 20XX) June 30 (Adjustment for insurance) June 30 (Adjustment for advertising) June 30 HH HH HH HH HHH HH (Superannuation owing at 30 June 20XX) June 30 (Entry to record annual depreciation on motor vehicles and store equipment) June 30 (Loan interest for the month)