QUESTION 2 (2.5 marks) Apple Law Consulting Service's Trial Balance on October 31, 2019 is as follows: Items Trial Balance Dr Cr Cash 61,300 53,200 2,400 12,600 4,500 32,000 A/R Inventory Prepaid rent Supplies Equipment Acc dep - Equip A/P Unearned service revenue Share Capital RE 16,000 23,000 15,500 38,500 9,400 230,000 Service revenue Salary expense Advertising expense Utilities expense 116,000 26,400 14,000 322,400 332,400 Req 1. Com up with 02 adjusting transactions for pre-paid expenses, 01 transaction for unearned revenue, 01 transaction for accrued revenue and 01 transaction for depreciation expense and 01 transaction for accrued expense on 31 October, 2020. (These transactions are given by yourself with reasonable numbers): (1.0 mark) 2. Prepare adjusted trial balance (0.5 marks) 3. Prepare Income Statement, Statement of Retained Earnings and Statement of Financial Position for 31 October, 2019. (1.0 marks) QUESTION 2 (2.5 marks) Apple Law Consulting Service's Trial Balance on October 31, 2019 is as follows: Items Trial Balance Dr Cr Cash 61,300 53,200 2,400 12,600 4,500 32,000 A/R Inventory Prepaid rent Supplies Equipment Acc dep - Equip A/P Unearned service revenue Share Capital RE 16,000 23,000 15,500 38,500 9,400 230,000 Service revenue Salary expense Advertising expense Utilities expense 116,000 26,400 14,000 322,400 332,400 Req 1. Com up with 02 adjusting transactions for pre-paid expenses, 01 transaction for unearned revenue, 01 transaction for accrued revenue and 01 transaction for depreciation expense and 01 transaction for accrued expense on 31 October, 2020. (These transactions are given by yourself with reasonable numbers): (1.0 mark) 2. Prepare adjusted trial balance (0.5 marks) 3. Prepare Income Statement, Statement of Retained Earnings and Statement of Financial Position for 31 October, 2019. (1.0 marks)