The following transactions relating to ABC Ltd for the month of 20x1 a) Services performed in relation to income recieved in advance total $1500 b)Supplies expense includes $400 of supplies that are still on hand at 30 June c)Interest accrued on the bank loan is 750 d)At the end of june paid rent for 3 months (June, july Aug) $6000 e)Credit sales for the month of June 2009 amounted to $50000. Past expierence shows that around 1.5% of net credit sales are written off as bad debts. XYZ ltd, previously notified ABC ltd that they have gone bankrupt, will be able to pay $1000, which was recieved at the end of the month. The provision of doubtful debt has an opening balance of $800. f) The owners of ABC Ltd wish to revise the balance of the provision of doubtful debts account to $3500. g) Depreciation of one year on the delivary van is $1500. h) On 30 June 2009, ABC Ltd sold an item of equipment for $40000 cash. The cost of equipment was $50000 and had a accumulated depreciation balance of $2000 REQUIRED: Prepare the relevant adjusting journal entries for the month of June 20x2

2329

If I Decide To File For Bankruptcy, What Do I Have To Do Before I File?

1093

Do I Have To List All Creditors On The Bankruptcy Schedules?

988

If I Am Going Through A Divorce How Will My Ex-spouse Filing Bankruptcy Affect Our Divorce Settlement?

1008

What Should I Do If I Discover That I Forgot To List A Creditor In The Bankruptcy Schedules?

970

What Will Happen To My Home And Car If I File Bankruptcy In California?

1002

Can I Own Anything After Bankruptcy?

1062

Can I Obtain Bankruptcy Protection Again If I Have Filed A Bankruptcy In The Past And Am Now Falling Behind In Payments Again?

977

Is California Chapter 7 (straight Bankruptcy) Bankruptcy Right For Me?

983

Can I Be Discriminated Against For Filing Bankruptcy?

1072

Will Bankruptcy Affect My Credit?

991

How Much Does It Cost To File Bankruptcy?

1126

What Can Bankruptcy Do For Me?

1017

Must I Produce Tax Returns Before And After My Bankruptcy?

943

How Can I Get A Copy Of A Bankruptcy Filing?

1076