Question 9: Marks-(10) Event Wagon, Inc., provides musical entertainment at weddings and various other functions. The company performs adjusting entries monthly, but prepares closing entries annually on December 31. The adjusted trial balance accounts are given below. Party covers and R: 130,000 Accounts receivable R: 9000 Office rentreprise Rs 12000 Losareas party revates 1,500 Lastrace expense 1900 Supplies expertise 1200 Dividends 1,000 Salary expense 79000 Accumulated 16000 depreciation van Accurated 14000 Repair and maintenance 2000 Travel Experise 6000 depreciation equipment expertise zados Miscellaneous expose 3600 4400 Locome before income 3900 temos Income taxes payable 400 Not Locomo 3400 Ratained earning 15000 Locome Tax reprise 2000 Cash 15000 Supplies 300 Van 40,000 Depreciation experts 3000 Equipment and music 7000 Teteres especie 25000 Total Asset 75.300 Account Payable 7000 Depreciation Expense Tsical instrument Notes payable Unexpired Laszcza 39000 Salaries Payable 1600 2000 Prepaid ront Ratained earning 4300 Capital Stock 5000 16400 Instructions: Prepare a set of financial statements dated December 31, 2011. (You may assume that all of the figures in the company's adjusted trial balance were reported correctly except for Interest Payable of Rs 200, which was mistakenly omitted in the financial statements) Answer: Question 10: Marks-(10) Prepare the necessary year-end closing entries and after closing trial balance of Event wagon Inc. (in question 9 given above)