i posted this earlier but the photo was confusing so if anyone could send me some help with explaination it would be helpful

138 CHAPTER 3 ADJUSTING THE ACCOUNTS 31, 2014. austed trial balance the TAKING IT FURTHER the Queen Street Advertising Ag tribal epare adjusting entries and financial statements (SO 2. 3) AP P3- The und and add November 30, 2014, follow QUIEN STREET ADVERTISING AGENCY November 2014 Uued Creda Debit Credit $ 4,800 $ 14,750 5 13650 Accounts payable Accounts receivable Accumulated depreciation equipment 30.000 9.000 0.000 5.500 66.000 1.600 1.000 125 30,000 Depreciation expense Equipment Insurance expense Interest expense Interest pube Note puble Prepaid insurance Rent expense S. Dufferin, capital 5. Dufferin, drawings Salaries expense Salaries payable Service revenue 800 7.750 7.150 17.500 27,200 14,350 12.575 1.4075 60.750 7200 Supplies 1.255 51935 Supplies expense Unearned revenue SI5510 $155,150 $146.350 Instructions Prepare the adjusting entries that were made (bu Prepare an income statement and a statement of owner's equity for the year ended November 30, 2014. and a balance sheet at November 30, 2014 Calculate the annual interest rate on the note. The note payable has been outstanding for eight months. Interest is paid on a monthly basis at the beginning of each month. Determine the balance in Salaries Payable on November 30, 2013. The company paid $15,250 in salaries in 2014 TAKING IT FURTHER A friend of yours is considering purchasing the company from Sally Dufferin and asks you to comment on the company's results of operations and its financial position. Is the com pany performing well or not? Does the financial position appear healthy or weak? Use specific informa- tion from the financial statements to support your answer. Prepare adjusting entries, adjusted trial balance and financial statements (SO 2, 3, 4) AP P3-9A Agopian Enterprises is owned by Edmund Agopian and has a January 31 fiscal year end. The company prepares adjusting entries on an annual basis. The following trial balance was prepared before adjustments