Question Information: You have just been hired as the accountant for "Rural Publications Ltd.", a company that issues a monthly magazine. They have two main sources of income-advertising (print and online) and the sale of promotional merchandise for individuals and companies. The magazine is released on the first day of each month. The company has been operating for many years and the prior accountant retired. You are now responsible in picking up where they left off. The prior accountant prepared the unadjusted trial balance for you to start with - see the next tab below. The owner and prior accountant also provided you with the following additional information to help you with any unrecorded transactions. Other Details: -The year-end date is August 31, 2022 -The prior accountant has recorded all transactions from August 1, 2021 to July 31, 2022. They have provided the trial balance of all the work they did up to July 31, 2022 -You have been able to confirm there are no errors in the numbers provided, but there appear to be some classification differences and adjustments needed for the year end. -A/A is short for accumulated amortization - Supplies consist of various products purchased that they then use their equipment to engrave, as well as supplies for printing the magazine and creating other products for re-sale (supplies are assets to be consumed) - Accounting policy is to add supplies purchased to the asset (inventory) account and adjust at month end. -Each year any profits are moved into investments that cannot be withdrawn for a minimum of two years in order to obtain higher rates of return. -The rental agreement for the location was renewed, signed and paid on September 1, 2021. They received a substantial reduction in rent by paying for two years of rent at once, total payment was $48,000. The two year rental agreement runs from September 1, 2021 to August 31, 2023 -The equipment was purchased 4 years ago and is expected to last for another 16 years, including the current year. The current net book value of the equipment after 4 years of depreciation has been claimed is $160,000 -The equipment was purchased using a loan of $200.000