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Date (June) Description Amount in dollars Gym fees-cash 1,329 Squash fees-cash 1,995 Paid general insurance 2.751 Sunday expenses 155 3 Motor vehicle expenses 184 4 Rent of business premises 3,181 5 Receive payment from account customers 1,162 5 Gym fees-cash 1.555 5 Payment to account payable 1,134 8 Staff wages 1,203 9 Purchase stationery supplies 470 10 Squash fees-cash 1,172 12 Purchase stationery supplies 445 12 Advertising expenses-account 531 14 Purchase stationery supplies 434 14 Cash withdrawals by owner 406 Staff wages 1,203 15 Receive paymen from account customers 1.228 17 Gym es-account 1,016 17 Squash fees-cash 2,160 18 Squash fees-account 1,293 18 Sundry expenses 137 18 Sundry expenses 231 19 Payment to accoun payable 1,294 19 Equipment hiring expenses-account 551 20 Gym fees-account 1.190 20 Advertising expenses-account 779 21 Cash withdrawals by owner 469 22 Equipment hiring expenses 482 22 Squash fees-cash 2.102 22 Gym fees-cash 1.228 Staff wages 1,203 23 Additional cash contributed by owner 3.555 23 Motor vehicle expenses 246 24 Equipment hiring expense-cash 315 24 Membership fees-cast 2.036 28 Advertising expenses-cash 489 28 Membership fees-cash 2,577 29 Equipment hiring expense-cash 466 Advertising expense-casl 479 29 Staff wages 203 The business has the following opening balances: Descriptions Amounts in dollars Cash bank 10,799 Account receivable 16,841 Motor vehicle 33,403 Account payable 7.412 Bank loan (due 2020) 27,462 Gym equipment 24,197 Stationery supplies 493 Additional information: (end of period adjustment) Bank loan interest rates (% per year) 11 Motor vehicle useful life (years) 6 Motor vehicle scrap value ($) 2503 Insurance paid for (months) 5 Rent paid for (months) 5 Gym equipment useful life (years) 4 Gym equipment scrap value ($) 5090 Closing stock of stationery supplies on 30/6($) 517 Comments: * This business was purchased on June. You are required to prepare a general journal entry to incorporate the opening balances into the current period, including the balancing capital * You will need to refer to the additional information section for your balance day adjustments * The rent and insurance period start on June. * Show three types of revenue. namely gym fees. squash fees and membership fees. All revenues received were for the month of June. * Unless otherwise indicated. all transactions are ona cash basis Use one general account receivable for all debtors and one general account payable for all creditors * Your balance sheet should show asset and liability divided into current and non- current * Staff works 7-day week and are paid on the 8th day. * Prepare ledger account as needed Required: 1. Complete: 10-column worksheet for your business 2. Complete an Income Statement for your business 3. Complete Balance Sheet for your business 4. Check that you have done the following before submitting your assignment , You have treated the rent and insurance before adjustments as prepaid assets (i.e., assetsrather than as expenses) , Your adjustments (e.g., depreciation) are for one month only and not for the whole year. , You have included two days of accrued wages as an adjustment , All individual amounts in the Income Statement and Balance Sheet exactly match their corresponding amounts in the worksheet (e.g., net income). > All amounts the worksheet Income Statement and Balance Sheet are rounded to the nearest dollar , You have not included S signs in your worksheet > The worksheet fits or one page.

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