1. (45 Pts) Shown to the right is the Unadjusted Trial Balance of Tauntan Company, a private corporation owned and operated by Jordan Taunton, All doy-to-day transactions hawe alresdy been recorded through December 31, 20vi. All the balances shown are up- to-date, but unadjusted. Using the adjustment data below. prepare a 10-columa workcheet. Jordan charges $150 per hour. He completed 50 houn of work on a contract this month and will complete the work a. nest month when he will send and irvolce to the curtomer. b. Depredation on equipment this year $1200. fordan pays walaries of $2,000 every other friday. His employees work 5 days each week. December 31 falls on c. Wednesdary, and the next pay day b Friday, lamasy 2. d. $700 worth of insurance has exiled. 2. (15 Ps) Using the completed workheet from "11 above, record the closing journal entries. 3. (40 Pts) Prepare the Post Closing Trial falance for Tounton Company for December 31, 20r1 \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|} \hline 2 & A & i & c & D & E & F & G & H & 1 & 1 & K \\ \hline 1 & \multirow[b]{2}{*}{ Account } & \multicolumn{2}{|c|}{\begin{tabular}{l} Unadjusted \\ Trial Balance \end{tabular}} & \multicolumn{2}{|c|}{ Adjustments } & \multicolumn{2}{|c|}{\begin{tabular}{l} Adjusted \\ Trial Balance \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{l} Income \\ Statement \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{c} Balance \\ Sheet \end{tabular}} \\ \hline 2 & & Debit & Credit & Debit & Credit & Debit & Credit & Debit & Credit & Debit & Credit \\ \hline 3 & Cash & 21,000 & & & & & & & & & \\ \hline 4 & Accounts Recievable & 6,200 & & & & & & & & & \\ \hline 5 & Prepaid Insurance & 1,700 & & & & & & & & & \\ \hline 6 & Equipment & 24,500 & & & & & & & & & \\ \hline 7 & Acc. Dep. - Equipment & & 4,500 & & & & & & & & \\ \hline 8 & Accounts Payable & & 10,000 & & & & & & & & \\ \hline 9 & Common Stock & = & 22,000 & & & & & & & & \\ \hline 10 & Retained Eamings & 2 & 8,200 & & & & & & & & \\ \hline 11 & Dividends & 3,000 & & & & & & & & & \\ \hline 12 & Service Revenue & & 50,500 & & & & & & & & \\ \hline 13 & Salaries Expense & 29,100 & & & & & & & & & \\ \hline 14 & Utilities Expense & 8,000 & & & & & & & & & \\ \hline 15 & Miscellaneous Expense & 1,700 & & & + & & & & & & \\ \hline 16 & & & & & & & & & & & \\ \hline 17 & Add-On Accounts: & & & & & & & & & & \\ \hline 18 & & & & & & & & & & & \\ \hline 19 & & & & & & & & & & & \\ \hline 20 & & & & & & & & & & & \\ \hline 21 & & & & & & & & & & & \\ \hline 22 & Net income (Loss) & & & & & & & & & & \\ \hline 23 & Total & 95,200 & 95,200 & 0 & 0 & 0 & 0 & 0 & 0 & 0 & \\ \hline \end{tabular}