The data needed to determine year$-$end adjustments are as follows:

i$.$ Supplies on hand at March $31$ are $$15,000.$

ii$.$ Insurance premiums expired during year are $$1,800.$

iii. Depreciation of the building during year is $$400.$

iv$.$ Depreciation of the vehicle during year is $$1,000.$

v$.$ Revenue earned but not billed at March $31$ is $$1,500.$

Instructions

a$.$ For each account listed on the trial balance, enter the balance

in the appropriate Balance column of a T account.

b$.$ Journalize the adjusting entries.

c$.$ Post the adjusting entries to the T accounts created in part a$.$

d$.$ Prepare an adjusted trial balance.

e$.$ Prepare an income statement, a retained earnings statement,

and a balance sheet.

f$.$ Journalize and post the closing entries to the T accounts

created in part a$.$ Indicate closed accounts by inserting a line in

both the debit and credit side of the relevant T accounts. Use

of the Income Summary account is optional.

g$.$ Prepare a post$-$closing trial balance.