The worksheet for NATIONAL AGENCY appears below. Using the adjustment data provided complete:

1. Journalize the adjusting entries as on December 31, 2017
2. Prepare adjusted trial balance (complete the worksheet). Add any accounts that are necessary.
3. Prepare the financial statement
   1. an Income Statement and
   2. Owners Equity Statement for the year ended December 31, 2017 and
   3. Classified balance sheet as on December 31, 2017.

The owner didnt make any additonal investments in the business during the year.

Adjustment data:

1. A Utilities bill was received on 30th December for December Utilities in the amount

of AED 2,800.

2. On 31st December, 2017 the staff are owed salaries of AED 9,000.

3. 60% of the Unearned Revenue was completed before the end of the year.

4. Rent was paid for six months from 1st October, 2017 to 31st March, 2017.

5. Depreciation of the Vehicles is at 20% per annum on cost (straight line method), no entry has been made yet for the year 2017.

6. The Supplies were counted at 31st December, 2017 and it was found the supplies

on hand are worth AED 1,350.

7. The Prepaid Insurance policy is from 1st October, 2017 to cover one year up to the 30th September, 2017.

8. The Bank Loan was taken on 1st April, 2017 carrying interest of 4% per annum. No entry

for the interest was made as at 31st December, 2017.