DAIEY DRIVER, INC. Unadjusted Trial lialence Aunawamake 1. Notes This equals the bank balance. Only windshicld washer fluid that cost 53. This amount was paid January 2 foe car in December 31 of this year; This is the car's purchase price. The car will be two years old at the ead of DDt has not yet paid or reconded 5000 of DDA paid all its taves from last year. DDI isased 5,000 shares at 55 each. This is the total accumelated careing: to J. All revenue is received in cath when the ac DDT's only employoe receiver a monthly 1 This is the coet of windehield wather flois The car's benefits are being used up about No car insurance has been paid for neut yea All fuel is paid for in cahh. DDI's tax nate is 20 percent of income befo Required: 1. Use the notes to determine and recond adjusting entries needed on December 31 for (a) wepplies used up, (b) insurance costs, (c) using up the car's benefits, (d) salaries not yet accountiod fot, and (e) income taxes for the year. 2. Post the adjusting entries from requirement 1 to -accounts to determine new adjasted balances, and prepare an adjasted trial balance. (If you are completing this excrcive axing the gencral ledger tool in Connect, this requirement will be completed autematically for you.) 3. Uking the adjusted balances from requirement 2, ptcpare an income statement, staterecnt of retained carnings, and classified halanse shect. E4-20 Preparing Adjusting Entries, an Adjusted Trial Balunce, and Finandal Statements Bill's Boarts (BB) is an outdoor advertiving company foended by Williami Longfall. Willian Lhows very liele accounting so be hired a friend to "keep the bools. Unfortanucly, William did tot review his fricnd's work and now it secms his friend has made a meis of the accousting records. William tas provided you the following lice of unadjunted accouns balances at BB33 September 30 fiwcal yeat-end. You have reviewed the bulances with Willian and mads netes shown in the right columit. Based on the given information from Textbook Exercise E4-19 - Daily Driver, Inc., pages 194-195, prepare TAccounts. Post the following to T-Accounts in the attached spreadsheet: - balances of the accounts from the Unadjusted Trial Balance of Daily Drive Inc. at December 31 to TAccounts. - adjusting journal entries prepared in Week 6 Assignment A. Preparing Adjusting Journal Entries Notes: - Refer to columns J and K for Examples on how to present and complete the T-Accounts - Enter you Last Name and First Name in cell O2 and O3, respectively. - Ensure to save your file every couple of minutes while working on the spreadsheet. - When finished, save the file. Do not rename the file name. - Click "add submission" button to upload your assignment. Hx. T-Accounts - Quiz.xisx 14 September 2022, 8:13 PM