The unadjusted trial balance of Countrywide Moving and Storage follows:

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1. Set up accounts for the items in the trial balance plus these additional accounts: Salaries and Wages Payable; Insurance Expense; Office Supplies Expense; Depreciation Expense, Office Equipment; Depreciation Expense, Trucks; and Depreciation Expense, Building. Enter the trial balance amounts in the accounts.
2. Journalize and post adjusting entries given the following information:

a. Insurance premiums of \(\$ 2,820\) expired during the year.

b. An inventory showed \(\$ 165\) of unused office supplies on hand.

c. Estimated depreciation on the office equipment, \(\$ 545 ;(d)\) on the trucks, \(\$ 5,300\); and

(e) on the building, \(\$ 6,700\).
\(f\). Of the \(\$ 2,075\) credit balance in Unearned Storage Fees, \(\$ 1,700\) was earned by the year-end.
g. Accrued storage fees earned but unrecorded at year-end totaled \(\$ 315\).
h. There were \(\$ 730\) of earned but unrecorded drivers' and helpers' wages at the year-end.
3. Prepare an adjusted trial balance, an income statement for the year, a statement of changes in owner's equity, and a classified year-end balance sheet. Meade's capital account balance reflects the December 31, 1989, balance plus a January 1,1990 , investment of \(\$ 50,000\). A \(\$ 4,800\) installment on the note payable is due within one year.

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COUNTRYWIDE MOVING AND STORAGE Trial Balance December 31, 1990 Cash $ 2,990 Accounts receivable. 775 Prepaid insurance. 4,500 Office supplies. 485 Investment in Trail, Inc., common stock. 10,000 Office equipment 4,500 Accumulated depreciation, office equipment. $ 2,000 Trucks. 54,000 Accumulated depreciation, trucks. 14,000 Building 160,000 Accumulated depreciation, building. Land Franchise Unearned storage fees Long-term notes payable 35,000 21,000 30,000 2,075 144,000 Dennis Meade, capital. 65,000 Dennis Meade, withdrawals 29,000 Revenue from moving services. 110,000 Storage fees earned. 8,325 Office salaries expense 13,745 Drivers' and helpers' wages expense 32,950 Gas, oil, and repairs expense 3,525 Interest expense 12,930 Totals. $380,400 $380,400