Q3: Aslam started her own consulting firm, Aslam & Co, on May 1, 2012. The trial balance at May 31 is as follows. Aslam & Co Trial Balance May 31, 2012 Account Number Debit Credit Cash Rs 4,500 Accounts Receivable 6,000 Supplies 1,900 Prepaid Insurance 3,600 Equipment 11,400 Accounts Payable Rs 4,500 Unearned Service Revenue 2,000 Owner's Capital 17,700 Service Revenue 7,500 Salaries and Wages Expense 3,400 Rent Expense 900 Rs.31,700 Rs.31,700 In addition to those accounts listed on the trial balance, the chart of accounts for Saleem & Co also contains the following accounts Accumulated Depreciation-Equipment, Salaries and Wages Payable, Supplies Expense, Depreciation Expense, Insurance Expense, and Utilities Expense. Other data: 1. Rs.900 of supplies has been used during the month. 2. Utilities expense incurred but not paid on May 31, 2012. Rs.250. 3. The insurance policy is for 2 years. 4. Rs.400 of the balance in the unearned service revenue account remains unearned at the end of the month. 5. May 31 is a Wednesday, and employees are paid on Fridays. Saleem & Co has two employees, who are paid Rs.900 each for a 5-day work week. 6. The office furniture has a 5-year life with no salvage value. It is being depreciated at Rs.190 per month for 60 months. 7. Invoices representing Rs.1,700 of services performed during the month have not been recorded as of May 31. Instructions (a) Prepare the adjusting entries for the month of May. 6) Prepare an adjusted trial balance at May 31, 2012. (c) Aslam & co wants to know its assets and also the income it has earned during the period. Prepare relevant statement that can provide owners the desired information. (05+05+05= 15 Marks)