Dispose-All began operaons on October 1, 2023, and is owned by Anand Sharma. It is a municipal recycling service that caters to the specialized needs of both residenal and commercial customers. Dispose-All purchased 10 trucks and had three modified to carry a fixed box for generang full-service, hand-loading revenue. The other seven trucks were altered to accommodate roll-off bins that are dropped at a locaon specified by the customer, who then self-loads; the roll-off bins are collected by a Dispose-All driver when the bin is full. Inially, Sharma will manage the office himself and will contract his two children, Rupi and Sunil, to drive. The drivers get paid by the job: $50 per roll-off delivery and $100 per full-service order. As demand increases, addional help will be hired. Anand had quite a busy first month of operaons and has not had any me to complete any accounng for his business. He has hired you to do the bookkeeping for his first month of operaons. He has presented you with a pile of source documents that include deposit slips, customer invoices, monthly bills, receipts, and copies of cheques drawn on the company account. Addional Informaon: The trucks are expected to have a residual value of $5,000 each. In approximately 5 years Anand expects to replace the trucks. He esmates that each truck will be driven a total of 200,000 km before any major overhauls or replacement. The acvity method (Units of Service) is used to record any depreciaon on the trucks. The lifeme esmated number of kilometres to be driven during the useful life is expected to be 1,000,000 km. For the month of October, the actual kilometres driven was 2,000 km. The security equipment purchased from Prevent Security Systems is top-of-the-line. Anand will have to upgrade this equipment in three years, at which point it will be worth nothing. The recommended depreciaon method for the security system is the double-declining balance method. All office equipment is depreciated on a straight-line basis. The computer equipment purchased from Compu-Tronics has a useful life of five years, with a residual value of $500.00. The safety glasses purchased from Glasses Galore that are supplied to the contractors are to be replaced every two years in order to comply with safety regulaons. The straight-line method is used to record the depreciaon of the safety glasses. Instrucons: There are no transacon instrucons for this case you have a series of source documents that you will use to generate the appropriate journal entries and adjusng entries. Ignore any GST/HST implicaons for this case. Fall 2023 aboyle@sl.on.ca Not for distribution Alynn Boyle, Professor, Accounting (St. Lawrence College) 2 Journal Entries Each entry must be correctly dated, and in chronological order. Marks will be deducted if you have the wrong date or if the entry is out of order. Please leave a space (line) in between each journal entry. You are encouraged to review the Journal Entry Basics informaon file located with your case resources. To receive full marks for the journal entry and adjusng entry, in addion to the correct date and order: You must use the correct account tle AND, You must have the correct amount, in the appropriate column (DR or CR) **no part marks will be given!!** Marks Awarded for Excel Formang For the statements required in part 3 below, five (5) marks will be awarded in total for the proper formang in Excel. This includes, but is not limited to statement headers, use of date references, organizaon, presentaon, and maximizaon of the Excel funcons, where applicable. Required for Submission: 1. From the source documents provided, complete all journal entries and posngs to the general ledger accounts for the month of October 2023. Check Figure: Unadjusted Trial Balance: $253,438.30 2. Complete any applicable adjusng entries and posngs to the general ledger accounts for the month ended October 31, 2023. Be sure to include detailed supporng calculaons where applicable on the adjusng entry tab provided. Please round all adjusng entry amounts to the nearest dollar. (Hint Excel has a great formula for this!) 3. Prepare the following for October 31, 2023, financial reporng: a. Completed Worksheet Check Figure: Net Loss: $2,155.30 b. Income Statement c. Statement in Changes in Owner Equity d. Classified Balance Sheet