Prepare General Journal entries to record the balance day adjustments at 30 June 2018 • include a brief narration for each journal Information regarding the balance day adjustments: A client has prepaid a deposit on work that has not yet been commenced by the business to the amount of $660 (incl

Prepare General Journal entries to record the balance day adjustments at 30 June 2018
• include a brief narration for each journal
Information regarding the balance day adjustments:

• A client has prepaid a deposit on work that has not yet been commenced by the business to the amount of $660 (incl. GST). This affects the Fees Income Account.

• Depreciate Office Equipment at 12% p.a. straight line (Original Cost is $30 000; Accumulated Depreciation is $3 600)

• Debtors total was $44 605, however, an additional bad debt of $605 (incl. GST) still needs to be accounted for. This amount relates to goods sold during the current year.

• Allowance for Doubtful Debts was $1 400. This now needs to be at 5% of total debtors after additional bad debts have been taken into account.

• Create a provision for annual leave of $12 000

• Depreciate motor vehicles at 25% p.a. reducing balance. (Original Cost is $100 000 and accumulated depreciation to date is $25 000)

• Insurance expense owing but not yet paid by the business, $1,078 (Incl.GST)

• Advertising Expenses of $9 900 (incl. GST) were paid on April 1 2018 for the 12 months (April 1, 2018 to March 31, 2019)

• A clients rent is overdue for 2 months at June 30, 2018. The 6 monthly amount is $17 820 (incl. GST).

• The business owes its employees unpaid wages for the days 28-30 June 2018: This amounts to a total of $2 220

• Unused stationery on hand $850. The opening balance of Stationary was $700. Purchases of stationary during the year were $2,300

• Currently the Provision for Long Service Leave is at $40 000. This needs to be increased to $48 000

• Tax Invoice No. 4321 for the sale of stock (dated 12 January 2018 to O. Versight for $715 (incl. GST) was omitted from the Sales Journal.