Question

The adjusted trial balance shown below is for Gordon Real Estate at the end of its...

The adjusted trial balance shown below is for Gordon Real Estate at the end of its reporting period 30 June 2019.

Debit $

Credit $

Cash at bank

11440

Accounts receivable

10340

Office supplies

770

Prepaid insurance

2750

Office equipment

15400

Accumulated depreciation—office equipment

5280

Accounts payable

3680

Salaries payable

1200

Rent revenue received in advance

750

Gordon, Capital

17820

Gordon, Drawings

650

Service revenue

38000

Rent revenue

12000

Salaries expense

19200

Office supplies expense

1700

Rent expense

14500

Insurance expense

1100

Depreciation expense—office equipment

880

78730

78730

Required

a)     Prepare the required closing entries for Gordon Real Estate for the year ended 30 June 2019. Narrations are required.

b)    Prepare Gordon’s Capital account using the T-account provided below.   (Total 15 Marks)

  Gordon, Capital

Date

Explanation

Amount $

Date

Explanation

Amount $
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