Attached is the question, it has multiple parts, it can be completed in excel and the narrative questions can be short and sweet, completed in any other way and I will combine them for submission.

REQUIRED 1. Enter the trial balance amounts in the Trial Balance columns of a work sheet and complete the work sheet using the information that follows. a. Expired insurance, $3,060 b. Inventory of unused delivery supplies, $1,430 c. Inventory of unused office supplies, $186 d. Estimated depreciation on the building, $14,400 e. Estimated depreciation on the trucks, $15,450 f. Estimated depreciation on the office equipment, $2,700 g. The company credits the lockbox fees of customers who pay in advance to the Unearned Lockbox Fees account. Of the amount credited to this account during the year, $5,630 had been earned by August 31. h. Lockbox fees earned but unrecorded and uncollected at the end of the accounting period, $816 i. Accrued but unpaid truck drivers' wages at the end of the year, $1,920 2. Prepare an income statement, a statement of retained earnings, and a balance sheet for the company. 3. Prepare adjusting and closing entries from the work sheet. 4. Can the work sheet be used as a substitute for the financial statements? Explain your answer. E1A. Applications of Accounting Note to Instructor: Because more concept is mostthan applicable discussion.is a 1. 2. 3. 4. 5. 6. E5A. Adjusting Entries for Supplies: Missing Data 1. Amounts indicated by the question marks are in italics a Supplies on hand at June 1 Supplies purchased during the month Total supplies available Supplies consumed during the month Supplies on hand at June 30 2. Adjusting entry for column a June 30 b c d E7A. Revenue and Expense Recognition 1. 2. January to June 2014 (payment on November 1) July to December 2014 ( 2014 royalty expense and royalty income In Kozuch, Inc.'s records: 2014 Dec. 31 In Lacoma Company's records: 2014 Dec. 31 percent) percent) E1A. Preparation of Closing Entries Dec. 31 31 31 31 E2A. Completion of a Work Sheet 1. and 2. Work Sheet For the Month Ended March 31, 2014 Adjusted Trial Balance Account Name Cash Accounts Receivable Prepaid Insurance Supplies Office Equipment Accumulated DepreciationOffice Equipment Accounts Payable Unearned Revenues Common Stock Retained Earnings Dividends Service Revenue Utilities Expense Wages Expense Insurance Expense Depreciation ExpenseOffice Equipment Wages Payable Supplies Expense Net Income Debit Credit Adjustments Debit Trial Balance Credit Debit 4 Adjusted Trial Balance Credit Income Statement Debit Credit Balance Sheet Debit Credit P1. Preparation of Closing Entries 1. 2014 2. Narrative to be completed by the student C 1. a. b. c. d. e. f. g. h. i. 2. In transaction e , $7,000 has to be recognized as revenue because services have been already provided and there is an obligation to pay for them. In transaction h , November 29 is not a recognition point because no services have been provided and there is no obligation for the client to pay for them. P4. Determining Adjusting Entries and Tracing Their Effects to Financial Statements 1. General Journal Date 2014 June P4. Determining Adjusting Entries and Tracing Their Effects to Financial Statements (Continued) 2. and 3. Cash Description Date 2014 June 30 Item Post. Ref. Item Post. Ref. Item Post. Ref. Item Post. Ref. Item Post. Ref. Item Post. Ref. Balance Accounts Receivable Date 2014 June 30 Balance Prepaid Rent Date 2014 June 30 30 Balance Adjustment Prepaid Insurance Date 2014 June 30 30 Balance Adjustment Prepaid Maintenance Date 2014 June 30 30 Balance Adjustment Spare Parts Date 2014 June 30 Balance 30 Adjustment P4. Determining Adjusting Entries and Tracing Their Effects to Financial Statements (Continued) Limousines Date 2014 June Item 30 Post. Ref. Balance Accumulated DepreciationLimousines Post. Date 2014 June 30 30 Item Ref. Item Post. Ref. Item Post. Ref. Item Post. Ref. Item Post. Ref. Balance Adjustment Notes Payable Date 2014 June 30 Balance Unearned Passenger Service Revenue Date 2014 June 30 30 Balance Adjustment Interest Payable Date 2014 June 30 Adjustment Income Taxes Payable Date 2014 June 30 30 Balance Adjustment 3-17 P4. Determining Adjusting Entries and Tracing Their Effects to Financial Statements (Continued) Common Stock Date 2014 June 30 Item Post. Ref. Item Post. Ref. Item Post. Ref. Balance Retained Earnings Date 2014 June 30 Balance Dividends Date 2014 June 30 Balance Passenger Service Revenue Date 2014 June 30 30 Item Post. Ref. Item Post. Ref. Item Post. Ref. Balance Adjustment Gas and Oil Expense Date 2014 June 30 Balance Salaries Expense Date 2014 June 30 Balance 3-18 P4. Determining Adjusting Entries and Tracing Their Effects to Financial Statements (Continued) Advertising Expense Date 2014 June 30 Item Post. Ref. Item Post. Ref. Item Post. Ref. Item Post. Ref. Balance Rent Expense Date 2014 June 30 Adjustment Insurance Expense Date 2014 June 30 Adjustment Spare Parts Expense Date 2014 June 30 Adjustment Depreciation ExpenseLimousines Date 2014 June Post. Ref. Item 30 Adjustment Maintenance Expense Date Item 2014 June 30 Adjustment 3-19 P4. Determining Adjusting Entries and Tracing Their Effects to Financial Statements (Continued) Post. Ref. Interest Expense Date 2014 June Item 30 Adjustment Income Taxes Expense Date 2014 June Item 30 30 4. Balance Adjustment Kitz Limo Service, Adjusted Trial Bala June 30, 2014 Cash Accounts Receivable Prepaid Insurance Prepaid Maintenance Spare Parts Limousines Accumulated DepreciationLimousines Notes Payable Unearned Passenger Service Revenue Interest Payable Income Taxes Payable Common Stock Retained Earnings Dividends Passenger Service Revenue Gas and Oil Expense Salaries Expense Advertising Expense Rent Expense Insurance Expense Spare Parts Expense Depreciation ExpenseLimousines Maintenance Expense Interest Expense Income Taxes Expense Note: Prepaid Rent does not appear on the adjusted trial balance because it now has a zero balance. eneral Journal Description Page 14 Post. Ref. Deb it Account No. 111 Cre dit Post. Ref. Balance Debit Post. Ref. Debit Post. Ref. Debit Post. Ref. Debit Post. Ref. Debit Post. Ref. Post. Ref. Post. Debit Debit Credit Debit Credit Account No. 113 Balance Debit Credit Credit Account No. 117 Balance Debit Credit Credit Account No. 118 Balance Debit Credit Credit Account No. 119 Balance Debit Credit Credit Account No. 140 Balance Debit Credit Credit Credit Account No. 148 Balance Debit Cre dit Account No. 149 Balance Ref. Debit Post. Ref. Credit Debit Post. Ref. Credit Debit Post. Ref. Credit Debit Post. Ref. Credit Debit Post. Ref. Post. Ref. Post. Ref. Credit Debit Debit Debit Credit Credit Credit Debit Cre dit Account No. 211 Balance Debit Cre dit Account No. 212 Balance Debit Cre dit Account No. 213 Balance Debit Cre dit Account No. 214 Balance Debit Cre dit Account No. 311 Balance Debit Cre dit Account No. 312 Balance Debit Cre dit Account No. 313 Balance Debit Cre dit Post. Ref. Debit Post. Ref. Debit Post. Ref. Post. Ref. Debit Debit Credit Credit Credit Credit Account No. 411 Balance Debit Cre dit Account No. 510 Balance Debit Cre dit Account No. 511 Balance Debit Cre dit Account No. 513 Balance Debit Credit \\ Post. Ref. Post. Ref. Post. Ref. Debit Debit Debit Credit Account No. 514 Balance Debit Credit Credit Account No. 515 Balance Debit Credit Credit Account No. 516 Balance Debit Credit Post. Ref. Post. Ref. Post. Ref. Post. Ref. Kitz Limo Service, Inc. Adjusted Trial Balance June 30, 2014 Debit Debit Debit Debit Credit Account No. 517 Balance Debit Credit Credit Account No. 518 Balance Debit Credit Credit Credit Account No. 519 Balance Debit Cre dit Account No. 520 Balance Debit Cre dit P1. Preparation of Closing Entries 1. 2014 June 30 30 30 Income Summary Retained Earnings To close the Income Summary account 30 Retained Earnings Dividends To close the Dividend s account 2. Narrative to be completed by student