Required:

$1.$ Determine adjusting entries and enter them in the general journal.

$2.$ Open ledger accounts for the accounts in the trial balance plus the following: Interest Payable;Income Taxes Payable; Rent Expense; Insurance Expense; Spare Parts Expense; Depreciation Expense$-$Limousines; Maintenance Expense; Interest Expense; and Income Taxes Expense.Record the balances shown in the trial balance.

$3.$ Post the adjusting entries from the general journal to the ledger accounts, showing proper references.

$4.$ Prepare an adjusted trial balance, an income statement, a statement of retained earnings, and a balance sheet.