The ledger of Cleaning Services Pty Ltd on 30 June 2019 includes these selected accounts...
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Accounting
The ledger of Cleaning Services Pty Ltd on 30 June 2019 includes these selected accounts and corresponding account numbers before adjusting entries have been prepared:
No.
Name of account
Debits $
Credits $
100
Prepaid electricity
12,000
110
Supplies
5,600
120
Equipment
60,000
121
Accumulated depreciation - Equipment
5,460
200
Bank loan
52,000
210
Revenue received in advance
27,000
300
Rent revenue
156,000
400
Interest revenue
410
Wage expense
36,400
An analysis of the accounts shows the following:
Equipment depreciates at $900 per month.
Revenue received in advance was for rent revenue for 6 months starting 1 January 2019.
Interest of $3,600 is accrued on the bank loan.
Supplies on hand total $1,000.
Electricity was prepaid for 12 months commencing on 1 January 2019.
Required:
Prepare the adjusting entries at 30 June 2019. Narrations are not required.
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