? Onthe workshestattached, you wil find the unadjusted fial balanoe of Adanac Landscaping Services for tos

e rended October $31,2018.$ ?You have been asked to assist Adanar's bookkeeper with the complefon of the adjusting entries and the adjusted trial balance on the attached working papers:

In discussion with Ber Brar, the owner, while sipping some fresh coffee, he informs you that

$1.$ ?The general manager ofthe business is paid monthly, Her salary is $$60,000$ ?per year. She is paiden the

$5"$ ?d$$y of each month, for employment services provided during the previous month.

reciation $2$

The business ordered and paid for its new work fruck on January $1,2018.$ ?It was delivered to Adanac on February $4,$ ?and was put to use that day. The truck's estimated useful life is $10$ ?years, with an estinated residual value of $$4,000.$ ?Depreciation is recorded to the nearest whole m$$nth$.$

$3,$

The temporary investment is a term deposit with an interest rate of $4\%$ ?per year.

The term depostwas

purchesed on May $1,2018$ ?and interest for the first year of the investment will be received on Api $30,$

$4.$ ?Adanac entered into a bank loan on January $1,2018$ ?to buy the truck. Adanac paid $54,000$ ?towants the purchase price, and borrowed the rest of the money for the purchase. The interest rate on the loans $4\%$ ?per year.

Interest is paid every six months, at the end of June and at the end of December each year.

The first loan repayment of $$6,000$ ?will be on January $1,2019$

$5.$ ?During its $2018$ ?business year, the business purchased $$4,000\mathrm{.}00$ ?of office supplies. Adanac counts its

supplies atthe end ofeach month, and adjusts the gerieral ledger for these courts. AtOctober $31,2018,$

Sen Brar stated that the business had used on average $$300$ ?of supplies per month for the year then ended.

$6.$ ?Ad$$nac$\text{'}$s clients typically pay for services provided to them at the time that the services are completed.

However, consulting services were provided to Adanac's newest client during October, and thebill of $$4,000$ ?was provided to the client. However, the amount was not received prior to the end of October, nor

was the bill recorded in the accounts of the business.

$7.$ ?Adamac's office rent expense is based upon its revenue. Rent expense for the year ended October $31,2018$ ?is to be $10\%$ ?of the consulting fees earned amount in the unadjusted trial balance, Each month, the business has made rental instalment payment of $$1,500,$ ?and the final amount will be paid in Novenber of $2018.$

In order to be able to lease the office space, the business required a rental insurance policy. A $12-$ ?month policy was purchased on February $1$ ?just before the lease was signed.

$9.$ ?Adanac has entered into a contract with a new client Adanac has agreed to to provide consulting

services from Navember throtigh December $2018$ ?at a rate of $58,000$ ?per month. The contractwas signed

on October $15,2018$ ?and a cash deposit of $58,000$ ?was received at the same time. This: $$8,000$ ?is the only amount not eared by Adanac at October $31.$

$10.$ ?The electricity bill for October in the amount of $$300$ ?arrived via mail on N$$vember B$,2018$: It has not yet been paid, nor has it been recorded in the accounts of the business.

REQUIRED $-$ ?PLEASE COMPLETE THE FOLLOWING FOR LADD AGENCIES: $(45$ ?marks$)$

$1.$ ?Prepare adjusting journal entries in proper general journal form for the above on the attached general journal page $(30$ ?marks$).$

$2.$ ?Enter the adjusting joural entries to the attached adjustments column on the attached trial balance page $(10$ ?marks$)$:

$3.$ ?Complete the adjusted trial balance columns on the attached trial balance page $(5$ ?marks$).$