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Question 5 (7 marks) The table below presents the current year's selected accounts from ZZZ...

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Accounting

Question 5 (7 marks)

The table below presents the current year's selected accounts from ZZZ Limited at 30 June 2022.

Table 1. Selected Accounts from ZZZ Limited

Debit

Credit

Office Equipment

24 000

Supplies

2 200

Prepaid Insurance

4 800

Salaries Expense

119 200

Rental Fees Revenue

52 800

Unearned Rental Fees

16 800

Note. This table is prepared before any adjusting entries are made.

The additional information is given below:

The Office supplies of $800 were available for use on 30 June 2022 (1 Mark)

ZZZ Limited collected four months' rent in advance from several tenants on 1 June 2022.

(1 Mark)

The accrued salaries of $14 000 were not recorded as at 30 June 2022. 1 Mark].

The above-mentioned prepaid insurance represents the premium paid on 1 June 2022 for one year. (2 Marks)

The office equipment was purchased on 1 April, and it is expected that this office equipment will last for five years. (2 Marks)

Required: Record necessary adjusting entries in the general journal on 30 June 2022.

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