On 30 June 2013, the ledger of Pishi A, Veterinary Clinic, contains the accounts and account balances shown below:
Account Debit Credit
Cash at Bank $ 13,640
Account Receivable 11,800
Prepaid Insurance 1,680
Land 69,200
Building 196,000
Accumulated Depreciation- Building $ 112,880
Equipment 20,120
Accumulated Depreciation-Equipment 8,800
Account Payable 16,040
Mortgage Payable 28,520
Pishi. A, Capital 103,840
Pishi. A, Drawings 127,360
Fees Earned 227,920
Rent Revenue 14,400
Salaries Expenses 63,600
Telephone Expenses 4,520
Interest Expenses 3,080
Insurance Expenses 1,400
_________ ________
$512,400 $512,400
The following information has not yet been recorded:
1. Rates owing at 30 June, $2,120
2. Deprecation on the equipment is $320. Deprecation on the building is $9,280.
3. An advance fee payment of $400 for minor surgery to be performed in July 2013 was credited to Fees Earned.
4. The mortgage contact provides for a monthly payment of $1,000 plus accrued interest. The June payment was not made. Interest of $280 is accrued on the mortgage.
5. Prepaid insurance of $1,240 has expired.
6. Salaries earned but not paid amount to $2,360.
Read more: Required: adjusting entries?
