Trial balance has been extracted from the books of Rawson Traders.

Rawson Traders
Trial Balance as of 30 June 202X
Account no	Account	Debit	Credit
11010	Sales		50,000
11010a	Sales return	200
11050	Rent revenue		400
11060	Discount revenue		60
21010	Purchases	40,000
21010a	Purchases return		800
21030	Cartage on purchases	400
23010	Advertising	1600
23020	Cartage on sale	480
23050	Salaries - sales	5,280
24090	Motor vehicle expenses	800
24100	Office expenses	520
24110	Salaries - office	2,820
24130	Rates	700
25010	Bad debts expenses	400
25030	Discount expenses	80
26030	Loss on sale of business segment	11,000
31020	Cash in hand	360
31030	Cash at bank	3,540
31040	Accounts receivable control	3,600
31050	Inventories (1 July 202X)	15,320
32030	Motor Vehicle	12,000
32030 A	Accumulated depreciation on motor vehicle		10,000
32050	Premises	20,000
32060	Land	16,000
41010	Accounts payable control		3,750
41012.1	GST collected		700
41012.1a	GST paid	450
42020	Mortgage on premises		22,000
51010	Capital - B. Rawson		48,000
51010a	Drawings - B. Rawson	160

Adjustments:

Inventories of 30 June 202X are $8,000

Rent still owing to B. Rawson is $400

Accrued advertising is $400

Accrued salaries are: Office $330 Sales: $300

Provision for doubtful debts estimated at $200

Rates still owing are $250

Depreciation to be charged on motor vehicles is $2,000

Provision for doubtful debts estimated at $200

On 30 June $1,200 paid for Business Insurance for the following year

Clear GST accounts

prepare the following:

• An Excel worksheet.
• Ledger accounts showing the effects of the adjustment (T format ledger).
• Journal entries to close the ledger.
• A trading account and a profit and loss account after closing entries.
• A fully classified income statement and balance sheet.
• Journal entries for reversal.