Business Name: Mr Heracles Olympus Trading As 'LaborNow!' 'LaborNow!' is a labour hire firm owned and operated by Mr Heracles Olympus. Mr Olympus has a large number of workers who he hires out to local firms to fill short-term contracts. Mostly his workers deal with cleaning and farming operations. Heracles has basic bookkeeping skills and has managed to do some needed balance day adjustments already. There are a few balance day adjustment items remaining that he was unsure on and so he has enlisted your help and has provided you with his unadjusted trial balance for the month of January 2024. Your task is to record the adjusting entries in the 'Journal', post these entries to the 'Ledger', manually prepare the 'Adjusted Trial Balance' and finally help fill out the 'Income Statement' and 'Balance Sheet' based on the 'Adjusted Trial Balance' for the month of January 2024. You can assume all other balance day adjustments not listed have already been accounted for and the bank loan is due in January 2029. Relevant information: 1. Adjusting Items: Date 31/01/2024 31/01/2024 31/01/2024 31/01/2024 31/01/2024 31/01/2024 31/01/2024 31/01/2024 31/01/2024 Description The motor vehicle is depreciated using the straight line method. It has a useful life of 15 years and a zero residual value. The business has 12 sales staff. Each sales staff member's GROSS wage is $1200 per fortnight [PAYG withheld of $216]. At the end of the month, the business owed its sales staff 1 week worth of wages and that is yet to be recorded. Received $9020 (including GST) from a customer at the start of January 2024 for provision of some advanced cleaning services. At the time, the amount was recorded as unearned revenue and GST collected. The business managed to deliver these services by the end of January 2024. On January 1, 2024 the business deposited $28800 into a fixed deposit at ABC Bank. The interest offered was at 6% per annum and paid quarterly. The interest on the $28800 fixed deposit acrrued by the end of the month is yet to be recorded. On January 1, 2024 the business paid $12474 (including GST) for 9 months of office rent. This was recorded at the time as Prepaid Rent and GST Paid. On January 11, 2024 the business purchased 13 packs of markers worth $286 (including GST) which were recorded as Office Supplies and GST Paid. Heracles counted the markers at the end of January 2024 and found that 8 packs of these markers have been consumed but their consumption has not been recorded. The office furniture is depreciated using the straight line method. It depreciates at 25% per annum and is assumed to have a zero residual value. The business hires 3 general office assistants. Each assistant is paid a NET wages of $704 per week [PAYG withheld of $114]. At the end of the month, the business owed its office assistants 2 weeks of wages and that is yet to be recorded. On January 1, 2024 the business paid $11088 (including GST) for 7 months of business insurance. This was recorded at the time as Prepaid Insurance and GST Paid.