KARIM CABS & TOURS Trial Balance December 31, 2016 Debit Credit Cash Rs 22,800 Account Receivable 15,600 Supplies 10,000 Prepaid Rent 3,000 Unexpired Insurance 20,000 Vehicles 800,000 Accumulated Depreciation - Vehicles Rs 300,000 Accounts Payable 53,000 Unearned Tour Revenue 98,000 Owner's Capital 350.900 Owner's Drawing 7,900 Service Revenue 106,000 Tour Revenue 104,000 Fuel Expense 51,500 Wages Expense 67,100 Maintenance Expense 14,000 Rs 1,011,900 Rs 1,011,900 The company has a policy of adjusting its accounts on monthly basis, data for adjustments is as follows: i. The vehicles have life of 20 years. ii. Three months' rent amounting Rs 9,000 had been paid on Oct-01 iii. Insurance policy of one year amounting Rs 24,000 purchased on Nov-01 iv. During December the company has earned Rs 38,650 from the advances received from customers. v . Wages earned by employees but not yet paid Rs 3,800. vi. Supplies on hand at December 31 is worth Rs 3,700. vii. Accrued revenue related to tour conducted during December is Rs 45,000 REQUIRED: For part (a) also prepare Adjusted Trial Balance a. Prepare adjusting entries for the month of December 31, 2016. (Note: In date column, please mention entry by roman numbers mentioned for each transactions as i, ii & so on) b. What would be the entry in case of 'i', 'it' and lil' above, if the company has a policy of adjusting accounts on yearly basis and the accounting year of the company ends on December-31