work sheet

The business has the following opening balances: Stationery Supplics Gym Equipment Bank Loan (due 2022) Account Payable Motor Vehicle Account Receivable Cash At Bank Additional Information: 415 S19,222 S29,483 Closing stock of stationery supplies on 306 (S) Gym equipment scrap value (S) 558 S7,526 Gym equipment useful life (years) S33,705 Rent paid for (months) S21,7 Insurance paid for (months) S19,308 Motor vehicle scrap value (S) Motor vehicle useful life (years) Bank loan interest rates(% Date 1-Jun Paid General Insurance 4-Jun Purchase stationery Supplies 7-Jun Gym fees Cash 9-Jun Cash Withdrawals by Owner 10-Jun Payment to Account Payable 12-Jun Motor Vehicle Expenses 14-Jun Gym fees - Cash 16-Jun Purchase stationery Supplies 18-Jun Squash fees Account 19-Jun Payment to Account Payable 20-Jun Equipment hiring expense- Account 20-Jun Membership fees - Cash 21-Jun Receive Payment from Account Customers 21-Jun Gym fees Account 22-Jun Advertising Expense Cash 23-Jun Additional cash contributed by owner 28-Jun Sundry Expenses 29-Jun Staff Wages Date 2,393Ju Rent of Business Premises $3,102 S462 5-Jun Advertising Expense Account S517 10-Jun Advertising Expense Cash S195 12-Jun Equipment hiring expense- Cash S432 18-Jun Squash fees Cash $1,069 S363 S547 $415 $1,069 $1,728 $297 1,076 9-Jun Receive Payment from Account Customers $1,256 $1,070 $603 $1,984 $1,052 $1,069 $2.992 $197 S1,674 8-Jun Staff Wages 1,204 Jun Cash Withdrawals by Owner $1,263 5-un Staff Wages 1,480 9-Jun Motor Vehicle Expenses S482 20-Jun Gym fees-Account 2,680 21-Jun Advertising Expense Accoun S1,376 2un Squash fees Cash $1,026 22-Ju Squash fees - Account S434 22-Jun Staff Wages 4,290 27-Jun Membership fees - Cash S221 29-Jun Sundry Expenses $1,069 Comments: This business was purchased on 1 June. You are required to prepare a general joumal entry to incorporate the opening balances into the current period, including the balancing capital 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 gym fees, squash fees and membership 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 Muscl Up-10 Column Warksheet Muscle Up-Income Statement Muscle Up-Balance Sheet