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Adjustments Assume that the Genove trucking company started business in June 1.2017 Assuming that the books are closed on June 30.2017 the following trial balance

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Adjustments Assume that the Genove trucking company started business in June 1.2017 Assuming that the books are closed on June 30.2017 the following trial balance was prepared Genove trucking company Trial balance June 30, 2017 $41.265$41.265 The following adjustments are to be recorded in order to prepare the balance sheet: a. Rent in the amount of $1.500 was paid for three months on June1, 2017. b . Insurance premium of $2.160 for comprehensive three-year insurance policy was paid on June1, 2017. c. In June30,2017 inventory of office supplies amounted to $60. d. The Company rented out one of its trucks on a part -time basis and collected rent of $600 in Advance for six months starting June1. e. The office equipment purchased on June1, 2017 has estimated life of 10 years and a Salvage value of $200 at the end of this period: this is to be depreciated by using the straight line method. f. The trucks purchased on June1, 2017 has an estimated life of 10 years and a salvage Value of $2000 at the end of this period: this is to be depreciated by using the straight line method. g. The company lent $1.400 at 18% interest for 30 days note, issued on June20, 2017. h. Wages of $1500 for June28, 29and30 have not been paid or recorded. i. The company borrowed money from a bank on June 10 and issued a 40 days note at 18% interest for $8.000. Prepare the adjusted trial balance in addition to the ordinary financial statements

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