the journals required to wind up the trust 595483

Page 1 The Morris Family Trust Trading As Trial Balance as at 30 June 2014 2014 2014 $ Dr $ Cr Income 0510 Sales 75,973.17 0525 Assessable gov. industry paymt 946.00 0570 Insurance recoveries 6,991.44 0575 Interest received 34.42 0584 Other income 165,000.00 Expenses 1510 Accountancy 1,736.00 1515 Advertising and promotion 3,259.70 1545 Bank Fees And Charges 774.10 1550 Borrowing Expenses 553.20 1615 Depreciation – plant 2,421.00 1671 Consumables 2,301.50 1740 Hire/rent of Plant & Equipment 247.27 1760 Interest – Australia 328.10 1810 M/V commercial – Depreciation 770.00 1811 M/V commercial – Fuel & oil 1,677.16 1815 M/V commercial – Repairs 684.20 1818 M/V other – Fuel & oil 2,011.84 1821 M/V other – Rego/Insurance 24.00 1822 M/V other – Repairs 2,547.71 1835 Postage 63.59 1840 Printing & stationery 460.09 1845 Protective clothing 467.86 1920 Staff training 474.54 1921 Stump Grinding 254.55 1930 Sundry expenses 400.00 1935 Superannuation 3,024.87 1940 Telephone 1,449.17 1965 Wages 34,047.33 Current Assets 2000 Cash at bank 80,096.40 2003 iSaver 2 12,223.64 2050 Cash on hand 12,245.79 2140 Equity in Partnership 15,864.00 These financial statements are unaudited. They must be read in conjunction with the attached Accountant’s Compilation Report and Notes which form part of these financial statements.Page 2 The Morris Family Trust Trading As Trial Balance as at 30 June 2014 2014 2014 $ Dr $ Cr Non Current Assets 2860 Plant & equipment – at cost 60,000.00 2869 Less: Accumulated depreciation 19,750.00 2876 Tools @ Cost 11,555.61 2880 Less: Accumulated depreciation 4,108.00 2890 Motor vehicles – at cost 39,205.00 2895 Less: Accumulated depreciation 19,026.00 Current Liabilities 3084 Visa 0.05 3102 Philip Morris 7,932.00 3103 Sarah Morris 7,932.00 3380 GST payable control account 641.67 3384 Input tax credit control account 0.43 Non Current Liabilities 3626 Loan 3626 – Vermeer Wood Chipper 2,840.96 Equity 4000 Opening Balance – Benef’y 1,074.86 4053 Physical…