Autoshop Inc. Trial Balance Manth Faded Nimamhar 2n jno Inc.'s maintains annual bookkeeping records and has a year end of December 31, 2022 . 1. Use the above trial balance to: a. The following adjustments took place during the year. Record these adjustments in the worksheet for the vear ended December 31, 2022: i. Stationery used up druing the year was worth $1700. ii. The amount in the Prepaid Rent account represents a payment made on January 1,2022 for 12 months' rent in 2022. iii. Oilfield machinery and drilling machine were purchased on January 1,2022 and have estimated useful life of 5 and 10 years, respectively. The oilfield machinery has no salvage value but the drilling machine has a salvage value of 25,000 . Use the straight-line method of depreciation. b. Complete the worksheet with adjusted trial balance, income statement and balance sheet sections. c. Prepare the appropriate journal entries and general ledger accounts. Use 1 journal page number. Useful Hint: When posting to general ledger accounts, remember that there may be beginning balance for certain accounts and certain accounts will need to be created to record adjustments. Using the information and work done for question number 1 above, prepare the following: a. Record the closing entries. b. Prepare postclosing trial balance, income statement and balance sheet for the year ended December 31, 2022 . Autoshop Inc. Trial Balance Manth Faded Nimamhar 2n jno Inc.'s maintains annual bookkeeping records and has a year end of December 31, 2022 . 1. Use the above trial balance to: a. The following adjustments took place during the year. Record these adjustments in the worksheet for the vear ended December 31, 2022: i. Stationery used up druing the year was worth $1700. ii. The amount in the Prepaid Rent account represents a payment made on January 1,2022 for 12 months' rent in 2022. iii. Oilfield machinery and drilling machine were purchased on January 1,2022 and have estimated useful life of 5 and 10 years, respectively. The oilfield machinery has no salvage value but the drilling machine has a salvage value of 25,000 . Use the straight-line method of depreciation. b. Complete the worksheet with adjusted trial balance, income statement and balance sheet sections. c. Prepare the appropriate journal entries and general ledger accounts. Use 1 journal page number. Useful Hint: When posting to general ledger accounts, remember that there may be beginning balance for certain accounts and certain accounts will need to be created to record adjustments. Using the information and work done for question number 1 above, prepare the following: a. Record the closing entries. b. Prepare postclosing trial balance, income statement and balance sheet for the year ended December 31, 2022