Zoukis Forklift Services Ltd

Trial Balance

For month ended December, $2023$

DR CR

Cash $$1,160,250\mathrm{.}00$

Accounts Receivable $$798,000\mathrm{.}00$

Supplies $$305,000\mathrm{.}00$

Machinery and Equipment $$1,450,000\mathrm{.}00$

Prepaid Rent $$490,000\mathrm{.}00$

Prepaid Insurance $$150,000\mathrm{.}00$

Unearned Fees $$440,000\mathrm{.}00$

Other Creditors $$550,000\mathrm{.}00$

Capital Stock $$2,060,000\mathrm{.}00$

Fees Earned $$2,384,250\mathrm{.}00$

Security expense $$54,000\mathrm{.}00$

Salary Expense $$452,000\mathrm{.}00$

Utilities Expense $$575,000\mathrm{.}00$

$$5,434,250\mathrm{.}00$ $$5,434,250\mathrm{.}00$

$3.$ The company presented the following adjustments and required you to preparing the adjusting entries in the general journal $($Narration required for each journal entry$)$:

i$.$ Insurance expired during $2023,$ $$120,000.$

ii$.$ Supplies on hand on December $31,2023,$ $$5,000.$

iii. Unpaid salary on December $31,2023,$ $$526,000$

iv$.$ Rent not expired on December $31,2023,$ $$70,000$

v$.$ Unearned fees on December $31,2023,$ $$400,000.$

$4.$ Post the adjusting entries to their respective ledger accounts already started in requirement # $2.$

$5.$ Prepare the adjusted trial balance.

$6.$ Prepare all three $2023$ financial statements for presentation to Mr$.$ Zoukis

$7.$ Journalize the closing entries and balance off the ledger accounts including the income summary account.

$8.$ Prepare the post$-$closing trial balance.