Problem $4-2$:

Shown below is the June $30,20$XX trial balance of the Robert Smith Repair Shop.

Adjustments

a$.$ An examination of the Prepaid Rent account shows a $$500$ balance.

b$.$ Depreciation on truck is $$2,000.$

c$.$ $$150$ of Prepaid Insurance has expired.

d$.$ Repair Supplies in the amount of $$670$ have been used.

Required

Open the ledger accounts for the items in trial balance and the following accounts: Rent Expense $(518)$ Depreciation Expense, Truck $(531)$ Accumulated Depreciation, Truck $(132)$ Insurance Expense $(519)$ Repair Supplies Expense $(517)$

Place the trial balance amounts in the ledger accounts and label them "balance."

Journalize and post the adjusting entries.

Prepare an adjusted trial balance.