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adjustments:
When calculating the portion of prepayments that expire during the month of June, you are asked to assume that an equal amount of expense is incurred per month.
A stocktake revealed that the balance of inventory on hand as at 30 June is equal to the closing balance of the Inventory account. This means there is no adjusting entry required for inventory shrinkage.
As at 30f06f2017 Unadjusted Trial Adjusted Trial Income Statement Balance SheetBalance Adjustments Account Name Balance Debit Credit Debit Credit Debit Credit Deb it C redit Deb it Credit 100 Cash at Bank 7l Md 58900 HH §2 ll FF 140PrepaIdRent HH FF 142 Prepaid Insurance 3 HH FF 277 _L 151AceumDepnCashReglsters HH llIIIIIIIIIIIIIIIIIIII FF 45 8 210 Arid—Amountspayabiectantroim 51797 FF 220WagesPayable ll H FF WaterF’ayable 123 ll immune g DruFF 4‘; HEJLHEHEUEUEUEHUH 8 20 ll Share Capltal 50000 FF 301RetainedEarnings 94239 inm ll 400 Sales Revenue 129213 L
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