Required: Prepare a 10-column worksheet for the year ended 30 June 2019.
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
![The unadjusted trial balance of Helena's Hire Cars is shown below (ignore GST).
Helena's Hire Cars
Trial Balance
As at 30 June 2019
Account
Debit
Credit
Cash at bank
18,140
Accounts receivable
21,340
Office supplies
Prepaid advertising
640
3,880
93,600
Hire cars
39,400
Accumulated Depreciation - hire cars
Accounts payable
10,800
Unearned hire fees
2,260
68,340
Helena, Capital
Helena, Drawings
Hire fees revenue
20,600
98,700
Wages expense
Fuel and oil expense
50,620
10,680
219,500
219,500
Additional information
a. Petrol purchased on credit for $680 and used during the last week in June has not been paid for
or recorded.
b. A physical count showed office supplies totalling $340 were still on hand at 30 June.
c. Depreciation for 1 year on the hire cars is $12,400.
d. Prepaid advertising has a balance of $600 at the end of the month.
e. The balance in the Unearned Hire Fees account includes $1,800 received in May for hire services
completed in June.
Required:
Prepare a 10-column worksheet for the year ended 30 June 2019.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa6cd94b6-9479-4fca-a70f-4f36e90c61ee%2F4c3c5a11-e963-4012-8258-b331eb67cfa3%2Fajtxodn_processed.png&w=3840&q=75)
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