The unadjusted trial balance of Staple Services as at 30 June 2020 is shown on the following worksheet. The following adjustments are yet to be included in Staple Services worksheet. Note: Ignore GST. (a) Supplies on hand at the end 30 June amount to $300. (b) Ten months of rent (i.e., the $20,000) was paid in advance on 1 March 2020. (c) Staple Services depreciates equipment at a rate of 5% per year on cost and the yearly depreciation expense is yet to be recorded. (d) Employees at Staple Services work Monday to Friday and are paid fortnightly every Friday for the previous 10-day work. Staples Services last paid the usual fortnightly wages of $4,000 on Friday 26 June for the previous 10 days work. The next payment of wages will not occur until the 10 July. Assume the 30 June 2020 is a Tuesday. (e) On 1 June 2020, Staple Services received $35,000 in advance from a client for consulting services to be provided evenly from 1 June 2020 to 31 October 2020. Assume the revenue will be earned evenly over the next five months and the earned component has yet to be recorded.

Required (1) Complete the adjustments columns in the worksheet and total. Key each adjusting entry by the letter corresponding to the data given. Thus, the supplies adjustment would be keyed with the letter (a). (5 marks) (2) Complete the Adjusted trial balance columns and total. (3 marks) (3) Complete the Income statement columns, total and include the profit or loss in the appropriate area. (2 marks) (4) Complete the Balance Sheet columns, total and include the profit or loss in the appropriate area. (2 marks)