The following is Sheridan Tours Limiteds unadjusted trial balance at its year end, November 30, 2021. The company adjusts its accounts annually.

		Debit		Credit
Cash		$14,800
Accounts receivable		7,940
Supplies		900
Prepaid rent		2,180
Prepaid insurance		7,560
Equipment		13,800
Accumulated depreciationequipment				$ 3,450
Vehicles		135,300
Accumulated depreciationvehicles				45,100
Accounts payable				2,070
Deferred revenue				13,900
Bank loan payable, due 2024				48,000
Common shares				10,000
Retained earnings				29,720
Fees earned				121,540
Salaries expense		62,700
Repairs and maintenance expense		11,130
Rent expense		11,990
Interest expense		3,080
Advertising expense		900
Income tax expense		1,500
		$273,780		$273,780

Additional information:

1.		The insurance policy has a one-year term beginning April 1, 2021. At that time, a premium of $7,560 was paid.
2.		The equipment was acquired on December 1, 2018, and has an estimated useful life of eight years. The vehicles were acquired on December 1, 2018, and have an estimated useful life of six years. The company uses straight-line depreciation.
3.		A physical count shows $300 of supplies on hand at November 30.
4.		The bank loan payable has a 7% interest rate. Interest is paid on the first day of each following month, and was last paid on November 1.
5.		Deposits of $1,390 each were received for advance tour reservations from 10 school groups. At November 30, all of these deposits have been earned.
6.		Employees are owed a total of $550 at November 30.
7.		A senior citizens organization that had not made an advance deposit took a river tour for $1,350. This group was not billed until December for the services performed.
8.		Additional advertising costs of $270 have been incurred, but the bills have not been received by November 30.
9.		On November 1, the company paid $2,180 rent in advance for November and December.
10.		Income tax payable for the year is estimated to be an additional $270 beyond that recorded to date.