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Adjusting Entries DATA
1	$1200 of supplies remain on hand at Dec. 31, 2013.
2	The company paid insurance premium of $4,500
	at November 30
3	An additional $150 of depreciation expense is still
	needed on the building for December
4	An additional $200 of depreciation expense is still
	needed on the Equipment for December
5	On 1 December, Harbor Cab Co. agreed to rent space
	in Overnight's building. The agreed-upon rent is
	$3,000 per month.
6	At 31 December, the company owes its employees
	$1,950 for work performed in December
7	On November 30 2013, Overnight borrowed $4,000
	by issuing an interest-bearing note payable at an
	annual interest of 9%.
8	Overnight entered into an agreement to perform
	routine maintenance by AS service for a fee of $1,500
	per month. The company began rendering services
	on 15 December, but the first monthly payment will
	not be received until 15 January next year.
9	The income tax expense for 2013 is 40% of pretax
	income of $66,570.

Requirements:
1		Present adjusting entries
2		Prepare adjusted Trial Balance
3		Prepare Balance Sheet and The Statement
		of Comprehensive Income

1 P 4-5 2 Overnight Auto Service Unadjusted Trial Balance 31-Dec-13 Credit Debit $18,592 6,500 1,800 4,500 52,000 36,000 1,500 12,000 3 4 5 Cash 6 Accounts Receivable 7 Supplies 8 Prepaid insurance 9 Land 10 Building 11 Accumulated Depreciation: Building 12 Equipment 13 Accumulated Depreciation: Equipment 14 Notes Payable 15 Accounts Payable 16 Income tax payble 17 Unearned Rent Revenue 18 Share Capital 19 Retained Earnings 20 Dividends 21 Service Revenue 22 Advertizing Expense 23 Wages Expense 24 Supplies Expense 25 Depreciation Expense: Building 26 Depreciation Expense: Equipment 27 Utilities Expense 28 Insurance Expense 29 Icome tax expense 2,000 4,000 2,690 1,560 9,000 80,000 14,000 171,250 3,900 56,800 6,900 1,500 2,000 19,400 13,500 22,608 30 31 $272,000 $272,000

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