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Plant Universe Ltd$-$ Begonia Branch Trial Balance as at June $30,2022$

$\backslash$table$[[$A$/$C Name,Trial Balance$],[,$DR$,$CR$],[$Cash$,180,000,],[$Accounts receivable,$420,000,],[$Allowance for bad debt,,$33,000],[$Merchandise Inventory,$1,000,000,],[$Store Suplies,$120,000,],[$Prepaid Insurance,$115,500,],[$Prepaid rent,$177,500,],[$Furniture and fixtures,$600,000,],[$Accumulated depreciation$-$Furniture and Fixtures,,$118,000],[$Motor Truck,$1,200,000,],[$Accumulated depreciation Motor Truck,,$],[$Accounts payable,,$33,000],[$Salary payable,,$],[$Interest payable,,$45,000],[$Unearned Sales revenue,,$185,000],[$Long$-$term loan,,$750,000],[$Capital$,,2,570,000$

The following additional information is available at June $30,2022$:

Store Supplies on hand at June $30,2022$ amounted to $$98,400.$

Insurance of $$115,500$ was paid on May $1,2022,$ for $7-$months to November $2022$

Rent was prepaid on April $1,2022,$ for $5-$months to August $2022.$

The furniture and fixtures have an estimated useful life of $5$ years and is being depreciated on the straight$-$line method down to a residual value of $$10,000.$

The motor truck was acquired on March $31,2022,$ and is being depreciated

over $10$ years on the double$-$declining balance method of depreciation, down to

a residue of $$15,000$

Salaries earned by employees not yet paid amounted to $$48,000$ at June $30,2022.$

Accrued interest expense as of June $30,2022,$ $$45,000.$

On June $30,2022,$ $$99,000$ of the previously unearned sales revenue had been earned.

The aging of the Accounts Receivable schedule at June $30,2022$ indicated that the

Allowance for Bad Debts should be $$70,000.$

After making all other adjustments, a physical count of inventory was done, which

reveals that there was $$1,100,000$ worth of inventory on hand at June $30,2022$

Other data:

$($xi$)$ The business is expected to make principal payments totalling $$250,000$ towards the

loan during the fiscal year to June $30,2023$

Required:

Prepare the necessary adjusting journal entries on June $30,2022.$

$[$Narrations are not required$]$

Prepare the Adjusted Trial balance at June $30,2022.$

Prepare the company$$s multiple$-$step income statement for the period ending June $30,2022$

Prepare the company$$s statement of owner$$s equity at June $30,2022$

Prepare the company$$s classified balance sheet at June $30,2022$

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