Please help me do this question Comprehensive Exercises I....
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Comprehensive Exercises I. The general ledger trial balance of the Oakville Journal, after a fiscal period of one year, is given below. Additional information is also provided on page 362 . With the additional information below, complete the following activities in your Workbook: A. Complete the work sheet. B. Prepare the income statement and the balance sheet for 20-8. C. Journalize the adjusting and closing entries. D. Post the adjusting and closing entries in the T-accounts provided. Ignore dates. E. Take off a post-closing trial balance. Additional Information - Late bills arriving in January 20-9 that pertain to the 208 fiscal period are as follows: - The value of materials and supplies at the year-end amounted to $8013.56. - The value of unexpired insurance at the year-end amounted to $1325.00. - Depreciation is calculated on a straight-line basis. Buildings: cost, $105000.00; estimated terminal value, $5000.00; estimated life, 40 years. Equipment: cost, $95700.00; estimated terminal value, $20000.00; estimated life, 10 years. Automotive Equipment: cost, $75325.00; estimated terminal value, $5325.00; estimated life, 7 years
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