Below is the September 30, 2018 unadjusted trial balance of Car Washing, Inc.

Unadjusted TB

Adjustments

Adjusted Trial Balance

Adjusted TB

DR

CR

DR

DR

CR

CR

DR

CR

Cash

$1,600

Accounts receivable

750

Supplies

400

Prepaid insurance

1,600

Prepaid rent

800

Equipment

20,000

A.D. Equipment

$2,000

Accounts payable

900

Wages payable

Interest payable

Unearned washing revenue

600

Note payable

4,000

Common shares

1,000

Retained earnings

2,550

Dividends

1,000

Car Washing revenue

38,000

Wages expense

12,000

Interest expense

Depreciation expense

Supplies expense

Maintenance expense

100

Insurance expense

Rent expense

8,800

Income tax expense

2,000

Total

$49,050

$49,050

The companys fiscal year end is September 30, and the following items require adjustment:

A count of supplies reveals $50 were on hand on September 30.

The $1,600 insurance policy was purchased on February 1, 2018.

The equipment was purchased last year. At the time of purchase, the estimated life of the equipment was 10 years with no estimated residual value.

The $4,000 note payable was issued on July 1, 2018 and accrues interest at a 7% annual rate. The note is expected to be repaid in January of 2018.

On September 1, 2018 the company entered into a 6-month contract to provide window washing for a local restaurant. The restaurant paid $600 in advance for the service. CleanPanes has washed the restaurants windows properly up to September 30.

The company had an employee who had unpaid wages of $100 on September 30.

As of September 30, the company had completed, but not yet billed $250 worth of work.