a) The trail balance of City Wide Stores is given in Appendix and following information relates to the end of reporting period adjustments for 30 June 20XX.
1. Inventory on hand, $8600.
2. Wages (general) due but unpaid, $600.
3. Insurance paid in advance, $250.
4. It is estimated that 6% of accounts receivable will not be collected.
5. Depreciation, expense to be charged against revenue
a. Building, 5% per annum.
b. Plant and equipment, 10% per annum.
c. Motor vehicles, 33% per annum.
6. Accrued employee entitlements:
a. Sick Leave $ 420
b. Annual Leave, $3700.
c. Long-service, $1890
You are required to prepare:
1. end-of-period adjustments
2. preparing an adjusted trial balance
3. closing entries.
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