Worksheet Q.docx - Question 1(30 Marks Star delivery Pty...

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Question 1 (30 Marks) Star delivery Pty Ltd provides delivery services in NSW rural areas. The unadjusted trial balance on 30 June 2017 below was prepared by the accountant. The following additional information is available at 30 June: 1. Expired rent amounted to $2,400. 2. Received a tax invoice for the marketing expense in June for $1,200 plus GST. 3. Motor vehicle has a useful life of ten years with $2,300 residual value. Straight line method of depreciation is adopted. No additions or disposals were recorded during the year. All motor vehicles were purchased on the same date. 4. Salary earned but not yet paid amounted to $12,000. 5. The owner withdrew $5000 on 30 June 2016. SUNNY TRAVEL PTY LTD Unadjusted Trial Balance as at 30 June 2017 Cash at bank 109,69 0 Accounts receivable 65,200 GST receivable 4,400 Prepaid rent 12,000 Motor vehicles 232,30 0 Accumulated depreciation — motor vehicles 12,940 Accounts payable 9,100 Loan payable 111,00 0 Unearned revenue 2,770 GST payable 6,600 Capital – J. Brown 147,56 0 Service revenue 167,30 0 Salaries expense 10,610 Insurance expense 8,680 Marketing expense 9,770

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