Complete the balance sheet
Extracted text: ADJUSTED TRIAL BALANCE INCOME STATEMENT Adjusted Trial Balance "For the Month Ending 31/8/2021" Sales Revenue Service Revenue 1,803,234 Ac. No. Account Dr Cr 28,998 Accounts Payable Accounts receivable Accum. Depreciation Motor Vehicle Accum. Depreciation - Office Furmiture Advertising Expense Bank Loan 201 6,330 Gross Profit 1,832,232 102 27,218 159 17,500 6,240 156 Other Operating Revenue: 610 4,250 Interest Revenue 5,362 251 33,990 301 Capital 182,930 101 Cash Operating Expenses Selling, General & Administrative Expenses: Computer Expense Consulting Expense 176,234 896 604 6,088 Cost of Good Sold Advertising Expense 46,435 244 Consulting Fees Payable 3,044 501 Cost of Good Sold 46,435 4,250 Depreciation Expense - Motor Vehicle Depreciation Expense - Office Furniture Drawings GST Collected 651 700 Computer Expense 896 655 480 6,088 Consulting Expense Depreciation Expense- Motor Vehicle Depreciation Expense- Office Furniture 302 4,780 700 222 21,216 111 GST Paid 9,281 480 Insurance Expense Interest Due Interest Expense 143 Interest Receivable 403 Interest Revenue 605 056 6 Insurance Expense 240 2,806 066 Office Supplies Expense 603 2,806 5,362 Rent Expense 1,820 5,362 Sales Commission Expense Utilities Expense 4,643 Inventory Motor Vehicle 103 42,198 6,100 34,330 158 84,000 155 Office Furniture 23,040 Wage Expense Office Supplies Office Supplies Expense PAYG Withheld Prepaid Insurance 104 16,792 602 40 106,772 261 6,781 Net Operating Profit 1,944,366 141 7,920 Prepaid Rent Rent Expense Sales Commission Expense Sales Revenue 142 14,560 606 1,820 Non-Operating Income and Expenses 607 4,643 Interest Revenue 5,362 401 1,803,234 402 Service Revenue 28,998 PAYG Withheld 6,781 241 Unearned Revenue 7,740 GST Collected 21,216 33,359 Utilities Expense Utilities Payable 608 6,100 243 2,033 Net Profit (Loss) Before Tax 1,977,725 609 Wage Expense 34,330 Wages Payable TOTAL 242 15,669 520,963 2,143,873 Relevant information: 1. Adjusting Items: Description Date 31/8/21 The motor vehicle is depreciated using the straight line method. It has a useful life of 10 years and a zero residual value. The business has 7 sales staff. Each sales staff member's GROSS wage is $2100 per fortnight [PAYG withheld of $378]. At the end of the month, the business owed its sales staff 1 week worth of wages and that is yet to be recorded. 31/8/21 Received $28380 (including GST) from a customer at the start of August 2021 for provision of some advanced cleaning services. At the time, the amount was recorded as unearned revenue and GST collected. The business managed to deliver these services by the end of August 2021. 31/8/21 On August 1, 2021 the business deposited $19200 into a fixed deposit at ABC Bank. The interest offered was at 8% per annum and paid quarterly. The interest on the $19200 fixed deposit acrrued by the end of the month is yet to be recorded. 31/8/21 On August 1, 2021 the business paid $18018 (including GST) for 9 months of office rent. This was recorded at the time as Prepaid Rent and GST Paid. 31/8/21 On August 11, 2021 the business purchased 15 packs of markers worth $660 (including GST) which were recorded as Office Supplies and GST Paid. Heracles counted the markers at the end of August 2021 and found that 1 packs of these markers have been consumed but their consumption has not been recorded. 31/8/21 The office furniture is depreciated using the straight line method. It depreciates at 25% per annum and is assumed to have a zero residual value. 31/8/21 The business hires 5 general office assistants. Each assistant is paid a NET wages of $748 per week [PAYG withheld of $120]. At the end of the month, the business owed its office assistants 2 weeks of wages and that is yet to be recorded. 31/8/21 On August 1, 2021 the business paid $9801 (including GST) for 9 months of business insurance. This was recorded at the time as Prepaid Insurance and GST Paid. 31/8/21
Extracted text: CLASSIFIED BALANCE SHEET Assets Liabilities Current Assets Current Liabilities 2$ Total Current Liabilities Non-Current Liabilities Total Current Assets Non-Current Assets Total Non-Current Liabilities Total Liabilities: Equity Total Non-Current Assets Total Owner's Equity Total Assets: Total Liabilities & Owner's Equity: