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Information necessary to prepare the year-end adjusting entries appears below. a. The bulidings have an...

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Accounting

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Information necessary to prepare the year-end adjusting entries appears below. a. The bulidings have an estimated useful life of 50 years with no salvage value. The company uses the straight-line depreciation method. b. The office equipment is depreciated at 10 percent of original cost per year. c. Prepaid insurance expired during the year, $1,350. d. Accrued salaries at year-end, $1,050. e. Rent to customers who paid in advance has been provided for $7,100. Required: 1. From the trial balance and information given, prepare adjusting entries. 2. Post the beginning balances and adjusting entries into the appropriate T-accounts. 3. Prepare an adjusted trial balance. 4. Prepare closing entries. 5. Prepare a post-closing trial balance. Prepare an adjusted trial balance. Journal entry worksheet Close the revenue accounts using Retained Eamings. Note: Enter debits before credits. Prepare closing entries. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account feld. Journal entry worksheet Close the expense accounts using Retained Earnings. Note: Enter debits before credits. Prepare a post-closing trial balance

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