The Following Information Is Available at Balance Date of 31/12/X1;ignore

Essay

The following information is available at balance date of 31/12/X1;ignore GST:
1.Bad debts to be written off are $4,500.
2.Buildings depreciation rate is 2% straight line for the whole year.
3.Machinery depreciation rate is 20% diminishing value for the whole year.
4.Insurance was commenced and paid on 1 April 20X1 for a whole year.
5.The last rent received was for 3 months in advance on 1/11/X1;rent is $1,000 per month.
6.The term deposit interest rate is 10%;interest was last received on 30/06/X1 to cover up to and including that date.
7.Sales salaries are $8,000 per month;they were last paid on 31/10/X1 to cover up to that date.
State the names of accounts affected by these adjustments,the type of account,whether the account increases or decreases,the adjustment amount,and any necessary calculation.
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