There is ONE (1) question. This assignment is worth a total of 80 marks (15%). On December 1, 2021, the account balances of Rooney Advertising were as follows: Debits $ Credits Cash 4,185 Accumulated Depreciation 750 Accounts Receivable 3,765 Accounts Payable 3,150 Supplies 3,000 Unearned Service Revenue 2,100 Equipment 15,000 Salaries and Wages Payable Owner's Capital 750 19,200 25,950 25,950 In addition to the accounts listed above, the chart of accounts includes these accounts: Service Revenue, Depreciation Expense, Supplies Expense, Salaries and Wages Expense, and Rent Expense. During December, the following transactions were completed: Date Transactions Dec 08 Paid $1,650 for salaries due employees, of which $900 is for December salaries. 10 Received $1,800 cash from customers on account. 12 Received $2,100 cash for services performed in December. 15 Purchased equipment on account $4,500. 17 Purchased supplies on account $750. 20 Paid creditors on account $3,750. 22 Paid December rent amounting to $450. 25 Paid salaries $1,950. 27 Performed services on account and billed customers $1,350 for services provided. 29 Received $825 from a client for an advertising project in January 2022. In addition, adjustments for the month ended 31 December 2021 are as follows: i) A count of supplies showed that $1,500 were on hand. ii) Accrued salaries amounted to $750. iii) Depreciation for the month is $150. iv) Unearned service revenue of $1,725 is to be recognised for services performed. Required: 1) Journalise the December transactions. Narrations are required. (15% marks) 2) Post the journals to the ledger accounts and calculate the balance carried forward to January 2022. Page 2 (26% marks) 3) On an extended worksheet, prepare the Trial Balance for Rooney Advertising as at 31 December 2021. 4) Journalise the December adjustments. Narrations are required. (7% marks) (6 marks) 5) Enter the December adjustments on the extended worksheet to prepare the Adjusted Trial Balance as at 31 December 2021. (9% marks) 6) On the basis of the Adjusted Trial Balance, present the following financial statements for Rooney Advertising: i) Income Statement for the month ended 31 December 2021. ii) Owner's Equity Statement for the month ended 31 December 2021. iii) Balance Sheet as at 31 December 2021. CamScanner (15 marks) [Total: 80 marks]