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Zhang Wei Dumplings is a famous and successful Chinese restaurant operating in Melbourne. The owner Wang Xiu Ying provided the following information for the business as at 31 December 2021

Zhang Wei Dumplings: Trial Balance as at 31 December 2021

	$		$
Cash at bank	15,500	Loan ANZ Bank (due 30/4/2022)	20,000
Accounts receivable	11,700	Acc Depreciation Vehicles	15,000
Cleaning expenses	3,500	Interest revenue	615
Cost of sales	113,650	Discount revenue	510
Vehicles	85,000	Cash sales	419,650
Drawings	12,000	GST clearing	5,890
Prepaid insurance expense	4,400	Acc Depreciation Shop equipment	21,750
Shop equipment	189,000	Credit sales	172,900
Legal fees	5,100	Mortgage loan	90,000
Wages	234,680	Capital	330,970
Computer equipment	62,500	Accounts payable	13,700
Sales returns	500	Prepaid revenue	5,000
Telephone expense	2,200
Inventory	18,000
Shop fittings	119,175
Office furniture	23,600
Equipment repair expense	15,000
Salaries	180,000
Discount expense	480

Adjustments required:-

1. Inventory as per stocktake as at 31 December 2021 was $19,500

2. Prepaid insurance as at 31 December 2021 was $300

3. Cleaning expenses owing is $1,200

4. Depreciation on the vehicle is 15% per annum

5. Depreciation on computer equipment is 30% per annum

6. Prepaid revenue as at 31 December 2021 was $800

7. An account for equipment repair for $1,500 completed in December 2021 has not been paid and is not included in the above accounts

8. It has been found that $2,000 of advertising has been incorrectly debited to the legal fees account

9. A debtor owing $1,600 has to be written off

10. Interest owing on mortgage loan is $425

11. The business donated $1,000 worth of goods to the local school cost is $300, and has not yet been recorded

Please complete the following:-

1. Record all the adjusting and correcting entries in the general journal

2. Prepare all the ledger accounts, including opening balances and all the general journal entries, and balance all ledger accounts

3. Prepare the Adjusted Trial Balance as at 31 December 2021

4. Prepare an income statement for the year ended 31 December 2021

5. Prepare a balance sheet as at 31 December 2021

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