5. Net income: $51,150 X EXCEL TEMPLATE PR 4-4A Ledger accounts, adjusting entries, financial statements, and closing entries; optional spreadsheet The unadjusted trial balance of Lakota Freight Co. at March 31, 20Y4, the end of the year, Cash. Supplies Prepaid Insurance. Lakota Freight Co. Unadjusted Trial Balance March 31, 20Y4 Equipment.. Accumulated Depreciation Equipment. Trucks. Accumulated Depreciation-Trucks Accounts Payable.. Common Stock. Retained Earnings Dividends. Service Revenue Wages Expense. Rent Expense. Truck Expense. Miscellaneous Expense.. Account No. 11 13 14 16 17 18 19 21 31 32 33 41 51 53 54 59 Debit Balances 12,000 30,000 3,600 110,000 60,000 15,000 45,000 10,600 9,000 4,800 300,000 The data needed to determine year-end adjustments are as follows: Obj. 2, 3 follows: Credit Balances 25,000 15,000 4,000 26,000 70,000 160,000 300,000

PR 4-4A Ledger accounts, adjusting entries, financial statements, and closing entries; optional spreadsheet 5. Net income: The unadjusted trial balance of Lakota Freight Co, at March 31, 20Y4, the end of the year, follows: $51,150 Obj. 2,3 5. Net income: $51,150 The data needed to determine year-end adjustments are as follows: The data needed to determine year-end adjustments are as follows: (a) Supplies on hand at March 31 are $7,500. (b) Insurance premiums expired during year are $1,800. (c) Depreciation of equipment during year is $8,350. (d) Depreciation of trucks during year is $6,200. (e) Wages accrued but not paid at March 31 are $600. Instructions 1. For each account listed in the trial balance, enter the balance in the appropriate Balance col. umn of a four-column account and place a check mark () in the Posting Reference column. 2. (Optional) Enter the unadjusted trial bisince on an end-of-period spreadsheet and complete the spreadsheet, Add the accounts listed in part (3) as needed. 3. Journalize and post the adjusting entries, inserting balances in the accounts affected. Record the adjusting entries on Page 26 of the journal. The following additional accounts from Lakota Freight Co.'s chart of accounts should be used: Wages Payable, 22; Supplies Expense, 52; Depreciation Expense-Equipment, 55; Depreciation Expense-Trucks, 56: Insurance Expense, 57. 4. Prepare an adjusted trial balance. 5. Prepare an income statement, a statement of stockholders' equity, and a balance sheet. During the year ended March 31, 20Y4, additional common stock of $6,000 was issued. 6. Joumalize and post the closing entries. Record the closing entries on Page 27 of the journal. Indicate closed accounts by inserting a line in both Balance columns opposite the closing entry. 7. Prepare a post-closing trial balance