Preparation of a Work Sheet, Financial Statements, and Adjusting, Closing, and Reversing Entries

At the end of the fiscal year, Siglo Delivery Service's trial balance appeared as follows.

Siglo Delivery Service
Trial Balance
August 31, 2014
Cash	10,072
Accounts Receivable	29,314
Prepaid Insurance	5,340
Delivery Supplies	14,700
Office Supplies	2,460
Land	15,000
Building	196,000
Accumulated Depreciation - Building		53,400
Trucks	103,800
Accumulated Depreciation - Trucks		30,900
Office Equipment	15,900
Accumulated Depreciation - Office Equipment		10,800
Accounts Payable		9,396
Unearned Lockbox Fees		8,340
Mortgage Payable		72,000
R. Siglo, Capital		128,730
R. Siglo, Withdrawals	30,000
Delivery Service Revenue		283,470
Lockbox Fees Earned		28,800
Truck Drivers' Wages Expense	120,600
Office Salaries Expense	44,400
Gas, Oil, and Truck Repairs Expense	31,050
Interest Expense	7,200
	625,836	625,836

1a. Prepare the work sheet, entering the trial balance accounts in the order they would normally appear and putting the balances in the correct columns.

1b. Complete the work sheet using the following information:

Expired insurance, $3,060.

Inventory of unused delivery supplies, $1,430.

Inventory of unused office supplies, $186.

Estimated depreciation on the building, $14,400.

Estimated depreciation on the trucks, $15,450.

Estimated depreciation on the office equipment, $2,700.

The company credits the lockbox fees of customers who pay in advance to the Unearned Lockbox Fees account. Of the amount credited to this account during the year, $5,630 had been earned by August 31.

Lockbox fees earned but unrecorded and uncollected at the end of the accounting period, $816.

Accrued but unpaid truck drivers wages at the end of the year, $1,920.

If no entry is required, leave the box blank.