Preparation of the adjusted trial balance

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Reference no: EM131894657

Adjusted Trial Balance

Account

Debit

Credit

Cash at Bank

$866

 

Accounts Receivable

2,722

 

Supplies

1,107

 

Prepaid insurance

687

 

GST Receivable

647

 

Golf Equipment

23,079

 

Accumulated Depreciation-golf equipment

 

$9,209

Building

40,099

 

Accumulated Depreciation-building

 

5,478

Accounts payable

 

5,865

Interest payable

 

710

Telecommunication expense Payable

 

320

Wages and salaries payable

 

362

Unearned fees revenue

 

1,098

GST payable

 

1,502

Loan from ABC Bank Ltd (non-current)

 

23,370

C. Harpreet Capital

 

26,243

C. Harpreet Drawings

9,000

 

Fees revenue

 

24,832

Depreciation expense- golf equipment

2,010

 

Depreciation expense- building

963

 

Wages and salaries expense

8,940

 

Insurance expense

1,704

 

Interest Expense

1,451

 

Electricity expense

1,701

 

Council rates expense

883

 

Supplies expense

2,130

 

Telecommunication expense

1,000

 

Additional data taken into account in the preparation of the above adjusted trial balance at June 30 2016:

1. Unearned fees revenue earned during the year, $554

2. Prepaid insurance expired during the year, $1704

3. Accrued interest expense, $710

4. Supplies used during the year, $2130

5. Fees revenue earned but not received, $786

6. Depreciation for the year: golf equipment, $2010; building, $963

7. Accrued wages and salaries expense, $362

Reference no: EM131894657

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