Perform adjustment for the above on a worksheet (with workings)

SHINE provides quality instruction to aspiring artistes. The business adjusts its accounts monthly, but performs closing entries annually on December 31. This is the studio's unadjusted trial balance dated December 31,2017. SHINE Unadjusted Trial Balance December 31,2017 Debits $44,760 122,500 20,000 12,000 5,000 192,000 Credits Cash Client fees receivable Notes receivable upplies Prepaid studio rent Studio equipment Accumulated depreciation-studio $104,000 12,840 48,000 960 uipment Accounts payable Notes payable (due September 2018 Interest payable Salaries payable Unearned client fees Income tax payable Share capital Retained earnings Client fees earned Supplies expense Salaries expense Interest expense Studio rent expense Utilities expense 16,000 10,000 100,000 40,000 164,620 8,000 34.500 960 22,500 6,600 17,600 10,000 $496,420 eciation e nse-studio equipment Income tax expense $496,420 Other Data 1. 2. 3. 4. 5. 6. 7. 8. Services provided to clients but not recorded or collected total $1,380 at December 31,2017. The studio pays rent quarterly (every three months). The last payment was made on November 1,2017. The next payment will be made in early February 2018. Studio equipment is being depreciated over 120 months (10 years) Interest expense owing on the note payable due September 2018 is $480 for December 2017 As at December 31,2017, $6,000 of previously unearned client fees had been earned. Supplies on hand at December 31,2017, total $2,000 Salaries expense incurred but not recorded or paid totals $1,500 at December 31, 2017. Accrued income tax expense for the entire year ending December 31, 2017, total $14,000. amount is due in early 2018. The full 9. The notes receivable has only one note for a client made on November 30, 2017 as a way to grant a time extension on his past-due client fees receivable. He promised to repay the amount on January 31 2018. The interest for December 2017 is $600 and all interest will be paid on January 31, 2018