The following is the unadjusted trial balance for James Trading Pty Ltd as at th

The following is the unadjusted trial balance for James Trading Pty Ltd as at the close of the financial year ended 30 June 2011. In addition the following entries had not been applied to the general ledger.1. Rent had been prepaid to the extent of 3 months on June 1st. The monthly rent is $10002. Interest income on a loan made to J Harris had not been taken to account3. Expenses of $20000 for legal fees were estimated to be incurred but had not been invoiced by the solicitor4. A stock take was undertaken as at the close of June and $8500 was the value of stock on hand5. The company received $20000 for services which will be delivered over the next four months. The first services were provided in the current month of June. On the attached worksheet a. Complete the entries to adjust the trial balance for the closing entriesb. Prepare an statement of income and statement of financial position

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