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Anchor Machining experienced the following events during 2016 1. Started operations by acquiring $100,000 of cash from the issue of common stock 2. Paid $12,000 cash in advance for rent during the period from February 1, 2016, 10 February 1, 2017 3. Received 89,600 cash in advance for services to be performed evenly over the period from September 1, 2016, to September 1, 2017 4. Performed services for customers on account for $130,400 5. Incurred operating expenses on account of 563,000 6. Collected $113,800 cash from accounts receivable 7. Paid S44,000 cash for salaries expense & Puid $56,000 cash as a partial payment on accounts payable Adjusting Entries 9. Made the adjusting entry for the expired rent. (See Event 2.) 10. Recognized revenue for services performed in accordance with Event 3. 11. Recorded $4,200 of accrued salaries at the end of 2016. Scanned with me Required . Record the events and adjusting entries for 2016 in general journal form. b. Post the events for 2016 to T-accounts c. Prepare a trial balance for 2016, d. Prepare an income statement, statement of changes in stockholders' equity, balance sheet c. Record the entries to close the 2016 temporary accounts to Retained Earnings in the gener journal and post to the T-accounts 1. Prepare a post-closing trial balance for December 31, 2016. and statement of cash flows for 2016, Sned with Cancer

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