Can you solve the step 3 ? ABDE1ItemDescription4Interest has accrued on the mortgage but not paid.$11,0005For the following:6Amount:789For the following:Adjustment for the period.10Instructions:Ending Supplies remains on hand11Ending Supplies inv.$275.001213Instructions:Prepaid insurance shows a total value remaining of$440.00|1351415Depreciable Asset:16For the following:Depreciation adjustment for the period.SL method17Office Furniture18life= 5Residual value =750019Depreciable Asset:14020For the following:Adjustment for the period .SL method21Office Equipmentlife= 514522Residual value =5000Depreciable Asset:For the following:2324Adjustment for the period. SL method25Store Equipmentlife= 1017026Residual value =250027Depreciable Asset:28For the following:Adjustment for the period. SL method29Automobile30life= 10Residual value =00003132Instructions:The portion of unearned revenue which is earned at the end of June.33$6,875.003423 A.KPaul services Trial Balance As At 30 June 20202 Student # 210075Account NoDebitAccount NameCredit34Step 1: Type your student number to get your allocated question (trialBalance)101Cash at Bank9750.00105Accounts Receivable3250.006115Supplies1100,007120Prepaid Insurance2200.008 Step 2: Journalise the adjustment transactions (adjustments sheet)135Office Furniture27500.0091370.00Acc. Depreciation. - FurnitureOffice Equipment1014055000.00Step 3: post adjusting journal entries and complete the Worksheet11Acc. Depreciation - EquipmentStore Equipment1410.0012Step 4: Create the Income Statements from the completed Worksheet14582500.0013146Acc. Depreciation - Equipment0.0014170Automobile110000.0015Step 5: Journalise the closing entries171Acc. Depreciation - Automobile0.00Accounts PayableInterest Payable162016500.00172039750.00Step 6: Create the changes in Equity and Balance sheet from the completed18Worksheet19204Unearned revenue13750.00206Loan Payable5500.0020110000.0043940.00208Mortgage PayablePaul's Capital21 Step 7: Answer the following questions considering proper referencing;30122 1)What is a trial balance, why do we create it?What are adjustment journal entries? Why do we record the302Paul's Drawings110.0023401Revenue110000.002)24adjustment journal entries?Advertising ExpenseAutomobile Expense501200.00253)5025775.00What is the purpose of writing an adjusted Trial balance?How adjustment journal entries are different from the closing journal504Depreciation Expense - FurnitureDepreciation Expense - Equipment260.004)275040.0028 entries?504Depreciation Expense - Store Equipr0.00Depreciation Expense - AutomobileInsurance Expense295040.0030505200.00*** The report should be in just one word format file and total number of31words including numbers should be 2000 words and proper referencing.32*** Penalty will be applied to late submission or high similarity rateMaintenance ExpenseMiscellaneous Expense506700.005071155.0033508Rent Expense0.0034 assignments509Supplies ExpenseUtilities Expense0.00355100.0036511Interest Expense0.0037299440.00299440.0038

Adjustment entry: It is the journal entries that are made at the end of an accounting period to make…

Item Description Interest has accrued on the mortgage but not paid. $11,000 For the following: Amount: For the following: Adjustment for the period. Instructions: Ending Supplies inv. Ending Supplies remains on hand $275.00 Prepaid insurance shows a total value remaining of $440.00 135 Instructions: 5 Depreciable Asset: For the following: Depreciation adjustment for the period.SL method Office Furniture Residual value =7500 life= 5 140 Adjustment for the period .SL method Depreciable Asset: For the following: Office Equipment life=5 145 Adjustment for the period. SL method Residual value =5000 3 Depreciable Asset: For the following: Store Equipment life= 10 170 Adjustment for the period. SL method Residual value =2500 Depreciable Asset: For the following: Automobile life= 10 Residual value =0000 The portion of unearned revenue which is earned at the end of June. $6,875.00 Instructions: