he unadjusted trial balance of Lakota Freight Co. at March 31, 2016, the end of the year, follows: Lakota Freight Co. UNADJUSTED TRIAL BALANCE March 31, 2016 ACCOUNT TITLE DEBIT CREDIT 1 Cash 12,000.00 2 Supplies 30,000.00 3 Prepaid Insurance 3,600.00 4 Equipment 110,000.00 5 Accumulated Depreciation-Equipment 25,000.00 6 Trucks 60,000.00 7 Accumulated Depreciation-Trucks 15,000.00 8 Accounts Payable 4,000.00 9 Kaya Tarango, Capital 96,000.00 10 Kaya Tarango, Drawing 15,000.00 11 Service Revenue 160,000.00 12 Wages Expense 45,000.00 13 Rent Expense 10,600.00 14 Truck Expense 9,000.00 15 Miscellaneous Expense 4,800.00 16 Totals 300,000.00 300,000.00 The data needed to determine year-end adjustments are as follows: Supplies on hand at March 31 are $7,500. Insurance premiums expired during year are $1,800. Depreciation of equipment during year is $8,350. Depreciation of trucks during year is $6,200. Wages accrued but not paid at March 31 are $600. Required: 1. For each account listed in the trial balance, enter the balance in the appropriate Balance column of a four-column account and select the check mark in the Post. Ref. column. 2. (Optional) On your own paper or spreadsheet, enter the unadjusted trial balance on an end-of-period work sheet and complete the work sheet. 3. a. Journalize the adjusting entries on Page 26 of the journal. Adjusting entries are recorded on March 31. b. Post the adjusting entries to the ledger, inserting balances in the accounts affected. 4. Prepare an adjusted trial balance. 5. Prepare an income statement, a statement of owners equity, and a balance sheet.* 6. a. Journalize the closing entries on page 27 of the journal. b. Post the closing entries to the ledger, inserting balances in the accounts affected. If the account balance is zero (0), enter a zero (0) in the account's normal balance column. If no entry is required in a cell, leave it blank. 7. Prepare a post-closing trial balance. * Be sure to read the instructions for each financial statement carefully.