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QUESTION
Additional information
1. Petrol purchased on credit for $780 plus GST of 10% and used during the last week in June has not been paid for or recorded.
2. A physical count showed office supplies totalling $240 were still on hand at 30 June.
3. Depreciation for 1 year on the hire cars is $12 400. Depreciation on the office equipment is $980.
4. The balance in the Advertising Expense account includes $600 prepayment (net of GST) for an advertising campaign beginning in July.
5. The balance in the Unearned Hire Fees account includes $1800 received in May for hire services completed in June.
6. The June insurance premium of $900 plus GST is overdue and has not been recorded. A tax invoice has not been received.
7. Wages earned but not paid amounted to $2150.
Required
A. Prepare the necessary adjusting entries.
B. Prepare a 10-column worksheet for the year ended 30 June 2016.
C. Prepare the income statement for the business for the year ended 30 June 2016.
D. Prepare a statement of changes in equity for the year ended 30 June 2016.
E. Prepare a balance sheet as at 30 June 2016.

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