Instructions The unadjusted trial balance of Lakota Freight Co. at March 31, 2017, the end of the year, follows: Lakota Freight Co. UNADJUSTED TRIAL BALANCE March 31, 2017 ACCOUNT TITLE DEBIT CREDIT 1 Cash 12,000.00 30,000.00 2 Supplies > Prepaid Insurance Equipment 3 Accumulated Depreciation Equipment 3,600.00 110,000.00 25,000.00 Trucks 60,000.00 15,000.00 7. Accumulated Depreciation Trucks Accounts Payable Kaya Tarango, Capital 10 Kaya Tarango, Drawing 4,000.00 96,000.00 15,000.00 11 Service Revenue 160,000.00 12 Wages Expense 45,000.00 Instructions 400 Wages we tu nie 1000.00 100000 30000 1000000 The data arendustan fotos Suponhard Macht we sce premier they are Declarat Derson of the years.300 We were the Required And when the lower pot Les mer one pour inte de Mogo Forsch in the winter A ESTEM B. For each account listed in the unadjusted trial balance, enter the balance in the appropriate Balance column of a four-column account and enter X'in the Post. Ref. column. Enter Balance in the ITEM 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. Find a blank end-of-period work sheet in the Excel spreadsheet you previously downloaded 3. A. Joumalize the adjusting entries on Page 26 of the journal. Adjusting entries are recorded on March 31. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered B. Post the adjusting transactions from the joumal to a ledger of four-column accounts, inserting balances in the accounts affected. Add the appropriate posting reference to the journal 4. Prepare an adjusted trial balance. 5. If you completed the end-of-period work sheet, use the adjusted trial balance figures to prepare an income statement, a statement of owner's equity, and a balance sheet. If you didnt complete the end-of-period work sheet use the ledger (the Excel spreadsheet) to prepare an income statement, a statement of owner's equity, and a balance sheet 6. A. Journalize the closing entries on page 27 of the journal. Refer to the chart of accounts for the exact wording of the account ntles. CNOW Journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. (Note: Complete the adjusted trial balance, the income statement, the statement of owner's equity, and the balance sheet BEFORE completing part 6. A) B. Post the closing entries to the edger of four column accounts, inserting balances in the accounts affected. Add the appropriate posting reference to the journal 7. Prepare a post-closing trial balance. "Be sure to read the instructions for each financial statement carefully 3. A Jourmalize the adjusting entries on Page 2 of the journal. Adjusting entries are recorded on March 31. Roter to the Chart of Accounts for account times. 3. B. Add the appropriate posting reference to the joumal 6. A. Joumize the closing entries on page 27 of the Journal. Refer to the Chart of Accounts for account beles. (Note: Complete the adjusted trial balance, the income statement, the statement of owner's equity, and the balance sheet deFORE completing part 6. A.) 6. B. Add the appropriate pasting reference to the journal. Peter to the chart of accounts for the exact wording or the account titles. CNOW journals do not use ines for oumal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a crede amount is entered Note: Scroll down for page 27 of the journal PAGE 26 Ledger accounts, adjusting entries, financial statements, and closing entries; optional spreadsheet Instructions Chart of Accounts Labels and Amount Descriptions Work Sheet Journal Ledger A Adjusted Trial Balance Journal Ledger Lakota Freight Co. Download tt ADJUSTED TRIAL BALANCE SPREADSH March 31, 2047 of four and save t ACCOUNT TITLE DEBIT CREDIT work in Exc 1 Cash 1.B. F 2 Supplies lumn acc el 3 Prepaid Insurance 1 3. B. P affected. + Equipment 5 Accumulated Depreciation Equipment 6. B. P No 6 Trucks 7 Accumulated Depreciation-Trucks 8 Accounts Payable Wages Payable 10 Kaya Tarango, Capital 11 Kaya Tarango, Drawing 12 Service Revenue 15 Wages Expense Check My Work 4A Unusung ETC States UCISIN pour prenCEE Work Sheet ons Journal Labels and Amount Descriptions Chart of Accounts Adjusted Trial Balance 6 Trucks Badt ADSH aveti 7 Accumulated Depreciation-Trucks Accounts Payable 9 Wages Payable 10 Kaya Tarango, Capital 11 Kaya Tarango, Drawing In Exc -BF el 12 Service Revenue I B. P 15 Wages Expense 3. B. P 14 Supplies Expense 15 Rent Expense 16 Truck Expense 17 Depreciation Expense-Equipment 18 Depreciation Expense-Trucks 19 Insurance Expense 20 Miscellaneous Expense 21 Totals ork : 0.0%