show me the calculation also please thanks a lot Accounting

show me the calculation also please, thanks a lot

-Accounting Principles & Question2 (9 marks) Solo Ltd began operations on 1 June 2013. The trial balance at 30 June is as follows SOLO LTD Trial Balance as at 30 June 2013 Assets Cash Accounts receivable Prepaid insurance Supplies Delivery van Accounts payable Service revenue received in advance Share capital Service revenue Salaries expense Rent expense Dr 7,750 6,000 2,400 2,000 25,000 Cr 4,500 4,000 31,750 7,900 4,000 1,000 48,150 48,150 Other information 1. Supplies on hand at 30 June total $1,300 2. The insurance policy is for 1 year 3. Services were performed during the month in relation to $2,500 of Revenue Received in Advance 4. Salaries of $3,000 are paid fortnightly. The 30 June is on Thursday. Salaries will not be 5. The delivery van is depreciated using the reducing balance method. The van has a residual 6. Invoices representing $3,000 of services performed during the month have not been paid until Friday 8 July value of $5,000 and is depreciated at the rate of 30% per annum recorded as of 30 June Required Record the above adjusting entries in the General Journal (6 x 1.5 9 marks)

Solution

Answer:

JOURNAL ENTRIES

Date

Particulars

Debit

Credit

June 30, 2013

Supplies Expense

            Supplies

700

700

June 30, 2013

Insurance Expense

           Prepaid Insurance

200

200

June 30, 2013

Service Revenue Received in Advance

            Service Revenue

2500

2500

June 30, 2013

Salaries Expense (3,000/14*6)

            Salaries Payable

1286

1286

June 30, 2013

Depreciation Expense- Delivery Van*

            Accumulated Depreciation

625

625

June 30, 2013

Account Receivable

             Service Revenue

3000

3000

Explanation*:

Depreciation= 25,000 *30%*1/12
Depreciation = $625

Date	Particulars	Debit	Credit
June 30, 2013	Supplies Expense             Supplies	700	700
June 30, 2013	Insurance Expense            Prepaid Insurance	200	200
June 30, 2013	Service Revenue Received in Advance             Service Revenue	2500	2500
June 30, 2013	Salaries Expense (3,000/14*6)             Salaries Payable	1286	1286
June 30, 2013	Depreciation Expense- Delivery Van*             Accumulated Depreciation	625	625
June 30, 2013	Account Receivable              Service Revenue	3000	3000