Consider the unadjusted trial balance of Lady, Inc., at July 31, 2012, and the related month-end adjustment data. Lady, Inc. Trial Balance Work Sheet July 31, 2012 Adjustments Debit Credit Adjusted Trial Balance Debit Credit Trial Balance Debit Credit 8.800 1,600 3,000 2.100 90,000 3,000 3,200 Account Cash Accounts receivable Prepaid rent Supplies Furniture Accumulated depreciation Accounts payable Salary payable Common stock Retained earnings Dividends Service revenge Salary expertise Rent expense Utilities expense Depreciation expense Supplies expense Total 14,000 75,060 1.900 17,000 2.400 460 112,260 112,260 Adjustment data at July 31, 2012: a. Accrued service revenue at July 31, $1,700. b. Prepaid rent expired during the month. The unadjusted prepaid balance of $3,000 relates to the period July 1, 2012, through September, 2013. c. Supplies used during July, $1,630. d. Depreciation on furniture for the month. The estimated useful life of the furniture is five years. e. Accrued salary expense at July 31 for Monday, Tuesday, and Wednesday. The five-day weekly payroll of $5,000 will be paid on Friday. QUESTIONS: 1. Prepare Adjusting Journal records and post the T accounts for each transacations. (41 points) 2. Prepare Adjusted Trial Balance at July 31, 2012. (18 points) 3. Prepare; (a) Income Statement, (b) Retained Earning Statement and (c) Balance Sheet at the July 31, 2012. (29 points) 4. Close the books at July 31, 2012. (12 points) Note: Who solve only questions 3 and 4; without solving 1 and 2 questions, will not get points from these question's answers