1. Please check my answers for the trail balance worksheet. (See Image 1) Below are instructions I followed.

Instructions to Complete Working Trial Balance:

A. Using the proper rows and columns of the Working Trial Balance above, please:

A(1). Prepare and post any necessary adjusting journal entries for each of the five (5) items listed above under Additional Information.

A(2). Create the necessary formulas to mathematically foot (add numbers in a column) and cross foot (extend) all rows and columns.

A(3). Prepare and post the Closing Entry for all temporary accounts.

A(4). Prepare the formulas under the Post Closing Trial Balance columns and ensure the columns foot.

2. Answer the questions below. See attached image.

(There are no more information I could give, these are all the details that I have and what I was given.)

Silver Tone Partners, Inc. Balance Worksheet 1231/16 1231/18 312,000 46,750 6,250 13,000 10.000 46.750 6 250 0000-Cash- Checking 12000-Accounts Receivable 21,000 35,000 3,000 46,750 6,250 3200-Inventory 15000-Funiture and Equipment 1700-AcumulatedDeprecaton 8000- Prepaid Rent 8700-Prepaid Insurance 2.500 500 500 2.000 4,000 3,000 12,000 4,000 15,000 3,000 38,000 19,000 2,000 12.000 8.000 38,000 19,000 2.000 12,000 88.000 Accounts Payable 42,500 38,000 8 ,000 1000-Payroll Payable 3000-Acrued Expenses 24000-Note Payable Curent 28000-Note Payable-Long Term 0100-Capital Stock 30200-Dridends Pald 2000-Retained Eamings 47900-Sales 2,000 2,000 88,000 1,000 500 4,000 2,000 232.500 500 163,750 5,500 210,000 378,750 210.000 378.750378 750 210,000 53,750 2,000 5,500 10,000 153, 760 00-Cost of Goods Sold 2400-Depreciaion Expense 3300-Insurance Expense 63400- Interest Expen 64300-Meals and Entertainment 4900-Office Supples 65600-Payroll Expenses Cost of Gloods 3,000 8,500 10,000 10,000 110,000 3,000 42.300 17,000 8,000 110,000 00-Professional Fees 6750-Rent Expense 68400- Travel Expense 02,000 ,000 43,300 7 000 7.500 42,300 17,000 7.500 5,000 396,000 741.250741 250 Upon review of the 2016 financial records the folowing information was determined by the Accounting Manager and he made the appropriate Adjusting Jounal Entries in the accounting records a dividend on 12/31/16 in the amount of $2,000, which had not yet been recordes Upon analyzing Rent Expense it was determined that the expense account was overstated by $1,000 and that amount Upon reviewing the insurance policy it should be reclassified to Prepaid Rent was determined that the proper balance at yearend should be $3,000 unpaid payrol as of 1231/16 wa 4. Upon reviewing tre paynll reports from Paychex it was determined that the amount of only $8.000 5 Upon reviewing the depreciation policy, it was determined the depreciation expense to be $2.000 for the year