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Required Information P4-7 Recording Adjusting and Closing Entries and Preparing a Balance Sheet and Income Statement Including Earnings per Share L04-1, 4-2,4-4 [The following Information applies to the questions displayed below.] Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period on December 31: Credit Debit $ 42,880 11,660 see Bee 19,000 Account Titles Cash Accounts receivable Supplies Prepaid insurance Service trucks Accumulated depreciation Other assets Accounts payable Wages payable Income taxes payable Note payable (3 years; 10% interest due each Decenber 31) Connon stock (5,880 shares outstanding) Additional paid-in capital 8,300 3,000 17.ee 19.000 Totals $ 115,95 $ 115,95 DO Data not yet recorded at December 31 Included: a. The supplies count on December 31 reflected $300 in remaining supplies on hand to be used In the next year. b. Insurance expired during the current year. $800. C. Depreciation expense for the current year. $3.700. d. Wages earned by employees not yet paid on December 3. $640. e. Income tax expense, $5,540. Record the closing entry to transfer revenues and expenses to income summary. Note: Enter debits before credits Transaction General Journal Debit Credit

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