Please post adjusting journal entries to the worksheet. Unadjusted trial balance is pictured. (I made my screenshot clearer)

Ozark closes to customers from Christmas until January 2. Employees do work counting inventory, doing maintenance, and cleaning. The following information pertains to potential year-end adjusting entries. If needed, the applicable federal income tax rate for prior and the current year is 30%.

1. Depreciation is taken. Assets sold are depreciated through the month of sales. (Note: Depreciation on the Trucks for the year should be $12,000 in addition to the $5,000 applicable to the truck sold in Dec.). The depreciation on the building has been based on a 30-year life. It is now estimated that the life used for the building should have been 25 total years. The change in estimate will be incorporated into the current year depreciation calculation. Hint: You can calculate the building has been depreciated for 10 prior years. That would have meant 20 years remained. Now, you will divide what is left to depreciate the remaining cost over 15 more, or 25 total years. There is never an adjustment for prior periods for changes in estimates.
2. Major expenditures to improve existing assets are debited to the appropriate asset account as was done in entry 29 on Dec. 24. Because the expenditure was at the end of the year, there is no added depreciation on the improvement.
3. Property insurance is allocated over the 12 month period covered by the premium (see Dec. 10, entry 24)
4. A physical inventory was taken of piers and lifts. This was done to confirm the perpetual inventory amount. You uncovered the following information: (a) A lift was listed in the inventory records, but could not be found. It was determined that it had been sold during the current year and had not been included in the cost of goods sold. The cost of the lift was $3,000. You need to remove this lift from inventory and charge it to the cost goods sold. (b) A lift was purchased by Ozark and was shipped by the manufacturer to Ozark FOB Shipping Point (ownership transfers to buyer at sellers loading dock)). It had an invoice of $5,300. This lift has to be added to inventory and accounts payable. (c) It was also determined that some lifts in the inventory were obsolete and they were written down by $2,700. This loss will appear as a separate other expense on the income statement. (Number your adjustments, 4a, etc.)
5. An analysis of the deferred revenue on the books revealed that it was for rentals made for ski rentals for January March of the current year (2016). It had been accrued last Dec. 31, 201 Sales tax was collected in 2015 at the time of the ski rental. Hint: This deferred revenue has been earned and should be added to the appropriate revenue account.
6. An aging schedule is to be done to establish the allowance for bad debts: The allowance should be:

Age	Amount	Percentage
0-30 days	$30,000	1%
30-60 days	10,000	5%
Over 60 days	Balance	20%

7. A physical inventory was taken of the 510, supplies account, the December 31, 2016 balance was $2,100.
8. A physical inventory was taken of account 505, Inventory, sports equipment. The agreed upon value using LIFO was $31,000. Remember, this inventory is recorded under the periodic method. At this point, you should make entries to arrive at the cost of goods sold. Freight is to be added to purchases to get cost delivered to Ozark. Purchase discounts should be subtracted. Always build the cost of goods available to sell. Then deduct ending inventory to arrive at cost of goods sold.
9. The law suit involves a suit by a customer concerning damage to a boat caused by a boat lift. Your lawyer thinks that you will have to pay damages and the estimate is $7,000.
10. As of Dec. 31, 2016, accrued salaries are $4,000 and accrued labor wages are $9,000. Dont forget added employer paid tax for FICA and Medicare and as 10% income tax withholding. Rather than creating new accrual accounts, you may use the usual payroll and tax payable accounts. This will not create a problem since this entry will be reversed on January 1, 2017. Remember to round up payroll taxes to the nearest dollar.
11. Dock lumber in the amount of $700 was purchased on account in December and was returned for a credit. The lumber company canceled the bill (which had not yet been paid)
12. Advertising in the amount of $1,200 was paid and recorded as an expense in November, but the ad will not run in until January of 2017..
13. The estimated value of the tools remaining at 2016 year-end is $7,500. The appraisal method of depreciation is used (see information on page 4 for account # 537).
14. Interest is paid quarterly on the $120,000, 6% note payable (under the line of credit). The note is due on May 1, 2017. Interest was last paid on November 1. Hint; You need to accrue interest for 2 months that would be 2/12 of 6% annual interest amount.
15. It has been determined that $4,000 property taxes paid in 2016 were applicable to 2015, not 2016. The income tax rate applicable to 2015 was 30%. Hint: This is a prior period adjustment that will be separately recorded and later closed to retained earnings.
16. The $12,000 of sports equipment rental revenue collected in December (entry 36) is for the use of equipment during December through March and it should be pro-rated equally over the four months. The pro-ration is the same, no matter when the rental contract is executed.
17. The exchange rate on Dec. 31 is One Euro = $1.30 (refer back to Dec. 24, #17)
18. An adjustment is need for prepaid computer consulting services (Dec. 24, item 37)
19. Installment contracts payable principal payments on truck loan are $10,035 in 2017. These amounts do not require an entry, but the information will be needed for the formal balance sheet (Requirement 3).
20. The market value of the trading investments is $15,400. The adjustment to market should be a valuation account just below the investment account.

T The applicable income tax rate is 30%. The adjustment for income tax expense cannot be made until you have calculated income before tax on the worksheet. Thus, no entry is made at this point. Be sure that you do not include the provision for income taxes in the amounts summed to calculate income before taxes. (Otherwise, you would calculate tax on income that is already net of tax.)

Adjusted Trial Balanc Income Statement Debit Credit Debit Credit Retained Earnings Debit Credit Balance Sheet Debit Credit 401 402 403 404 405 406 4061 501 Deduct 2 if no entries Unadjusted Trial Bala Adjusting Entries Debit Credit Key Debit Key Credit 27.103 203,992 85.575 1,887 10,000 12,000 94,000 503 505 510 511 2,260 25,000 1,800 1,000 2 3 31-Dec-16 4 5 Cash-checking 6 Cash-money market 7 Accounts receivable 8 Allowance for bad debts 9 Rebate Receivable 10 Trading investments 11 Trading Invest Market Adj 12 Inventory, piers and lifts 13 14 Inventory, dock parts 15 Inventory, sports equipme 16 Supplies 17 Prepaid expense 18 19 20 Security deposit 21 Land 22 Buildings 23 Accumulated depreciatior 24 Barge 25 Accumulated depreciation 26 Trucks 27 Accumulated Depreciation 28 Tools 29 Customer Deposits 30 Accounts payable 31 32 Wages payable 33 FICA and Medicare payat 34 Payroll tax withholdings 35 State sales tax payable 36 Federal Income taxes pay 37 Estimated liabilities 38 Accrued interest payable 39 Deferred revenue 40 Gift Certificate Lia 41 Notes payable 42 Mortgage payable 2,000 120,000 450,000 150,000 78,000 512 520 530 531 532 533 534 535 537 600 601 26.000 110,000 26,000 9,700 4,000 79.400 602 603 604 605 606 607 608 6091 6092 610 611 2,880 4,000 3.2501 120,000 269,000 40,000 10,000 190.000 158,791 10,000 612 613 700 701 702 703 704 101 102 103 104 105 106 107 109 110 111 201 203 204 205 961,000 168,800 306,000 203.500 110.500 43,500 4,500 900 1,450 702,000 189,840 105,300 43 Installment contracts pay 44 Deferred sport rental 45 Common stock 46 Paid in excess of par 47 Retained Earnings 48 Dividends declared 49 Prior Period Adjustment 50 Pier and Lift Sales 51 Pier and lift installation lal 52 Custom Dock Sales 53 Seawall installations 54 Sports equipment sales 55 Sports equipment rental 56 Permit fee revenue 57 Interest revenue 58 Gain/Loss sale of fixed 59 Unrealized gain/loss mark 60 Cost of sales-piers and lif 61 Dock parts costs 62 Seawall costs 63 Sports equipment Cost of 64 65 66 Sports equipment purcha: 67 Purchase discounts taker 68 Salaries expense 69 Labor expense 70 Payroll tax expense 71 Utilities expense 72 Insurance expense 73 Maintenance expense 74 Fuel expense 75 Property tax expense 76 Advertising expense 77 Supplies expense 78 Professional fees expens 79 Freight In 80 Interest expense 81 Bad debt expense 82 Depreciation expense-bui 83 Depreciation expense-bar 84 Depreciation expense-trud 89,200 4,060 206 210 311 312 313 314 315 316 317 318 319 320 321 322 323 324 331 333 335 107,000 223,000 25,247 20,400 40,200 16,900 6,300 12.000 40.080 12.9001 9,795 5,600 28,190 5,137 5,000 337 340 341 350 399 85 Depreciation expense-too 86 Inventory write-down 87 Exchange Gain/Loss 88 Estimated losses 89 Income tax expense 90 Totals 91 Net Income before tax 92 Income Tax Expense 93 Income Tax Payable 94 Net Income after Tax 95 Ending Retained Earnings 96 2,887,968 2,887,968 399 606 Adjusted Trial Balanc Income Statement Debit Credit Debit Credit Retained Earnings Debit Credit Balance Sheet Debit Credit 401 402 403 404 405 406 4061 501 Deduct 2 if no entries Unadjusted Trial Bala Adjusting Entries Debit Credit Key Debit Key Credit 27.103 203,992 85.575 1,887 10,000 12,000 94,000 503 505 510 511 2,260 25,000 1,800 1,000 2 3 31-Dec-16 4 5 Cash-checking 6 Cash-money market 7 Accounts receivable 8 Allowance for bad debts 9 Rebate Receivable 10 Trading investments 11 Trading Invest Market Adj 12 Inventory, piers and lifts 13 14 Inventory, dock parts 15 Inventory, sports equipme 16 Supplies 17 Prepaid expense 18 19 20 Security deposit 21 Land 22 Buildings 23 Accumulated depreciatior 24 Barge 25 Accumulated depreciation 26 Trucks 27 Accumulated Depreciation 28 Tools 29 Customer Deposits 30 Accounts payable 31 32 Wages payable 33 FICA and Medicare payat 34 Payroll tax withholdings 35 State sales tax payable 36 Federal Income taxes pay 37 Estimated liabilities 38 Accrued interest payable 39 Deferred revenue 40 Gift Certificate Lia 41 Notes payable 42 Mortgage payable 2,000 120,000 450,000 150,000 78,000 512 520 530 531 532 533 534 535 537 600 601 26.000 110,000 26,000 9,700 4,000 79.400 602 603 604 605 606 607 608 6091 6092 610 611 2,880 4,000 3.2501 120,000 269,000 40,000 10,000 190.000 158,791 10,000 612 613 700 701 702 703 704 101 102 103 104 105 106 107 109 110 111 201 203 204 205 961,000 168,800 306,000 203.500 110.500 43,500 4,500 900 1,450 702,000 189,840 105,300 43 Installment contracts pay 44 Deferred sport rental 45 Common stock 46 Paid in excess of par 47 Retained Earnings 48 Dividends declared 49 Prior Period Adjustment 50 Pier and Lift Sales 51 Pier and lift installation lal 52 Custom Dock Sales 53 Seawall installations 54 Sports equipment sales 55 Sports equipment rental 56 Permit fee revenue 57 Interest revenue 58 Gain/Loss sale of fixed 59 Unrealized gain/loss mark 60 Cost of sales-piers and lif 61 Dock parts costs 62 Seawall costs 63 Sports equipment Cost of 64 65 66 Sports equipment purcha: 67 Purchase discounts taker 68 Salaries expense 69 Labor expense 70 Payroll tax expense 71 Utilities expense 72 Insurance expense 73 Maintenance expense 74 Fuel expense 75 Property tax expense 76 Advertising expense 77 Supplies expense 78 Professional fees expens 79 Freight In 80 Interest expense 81 Bad debt expense 82 Depreciation expense-bui 83 Depreciation expense-bar 84 Depreciation expense-trud 89,200 4,060 206 210 311 312 313 314 315 316 317 318 319 320 321 322 323 324 331 333 335 107,000 223,000 25,247 20,400 40,200 16,900 6,300 12.000 40.080 12.9001 9,795 5,600 28,190 5,137 5,000 337 340 341 350 399 85 Depreciation expense-too 86 Inventory write-down 87 Exchange Gain/Loss 88 Estimated losses 89 Income tax expense 90 Totals 91 Net Income before tax 92 Income Tax Expense 93 Income Tax Payable 94 Net Income after Tax 95 Ending Retained Earnings 96 2,887,968 2,887,968 399 606