1. Tarkov Security Services Co. offers security services to business clients. The trial balance for Tarkov Security Services has been prepared on the following end-of-period spreadsheet for the year ended August 31, 2020: Tarkov Security Services Co. End-of-Period Spreadsheet For the Year Ended August 31, 2020 Unadjusted Trial Balance Adjustments Cr. Cr. 120 1,000 80 120 1,9001 Adjusted Trial Balance Dr. Cr. Dr. Dr. SOU 40 360 Account Title Cash Accounts Receivable Supplies Prepaid Insurance Land Equipment Accumulated Depreciation - Equipment Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Insurance Expense Utilities Expense Supplies Expense Depreciation Expense - Equipment Miscellaneous Expense 595 2,100 75 2,000 1,100 120 60 20 5,095 5,095 V. The data for year-end adjustments for Tarkov Security Services are as follows: 1. Fees earned, but not yet billed, $120. it. Supplies on hand, $35. II. Insurance premiums expired, $10. iv. Depreciation expense, $10. Wages accrued, but not paid, $200. Instructions a. Enter the adjustment data, and place the balances in the Adjusted Trial Balance columns b. Prepare the adjusting entries for Tarkov Security Services Co. c. Prepare the Income Statement, Retained Earnings Statement, and Balance Sheet for Tarkov Security Services Co. d. Prepare the closing entries for Tarkov Security Services Co. 2. Umbrella Corporation provides consulting for virology and pharmaceutical research. Umbrella Corporation prepared the following end-of-period spreadsheet at December 31, 2002, the end of the fiscal year: Umbrella Corporation End-of-Period Spreadsheet For the Year Ended December 31, 2002 Unadjusted Trial Balance Adjustments Account Title Dr. Cr. Dr. Cr. Cash 11,800 Accounts Receivable 37,500 11,300 Supplies 2,840 2,000 Prepaid Insurance 4,200 4,000 Land 98,000 Building 450,000 Accumulated Depreciation - Building 230,000 11,000 Equipment 107,000 Accumulated Depreciation - Equipment 87,300 6,550 Accounts Payable 21,690 Wages Payable 5,900 Common Stock 75,000 Retained Earnings 145,000 Dividends 10,000 Fees Earned 363,700 11,300 Wages Expense 160,000 Advertising Expense 18,000 Insurance Expense 4,000 Utilities Expense 11,000 Supplies Expense 2,000 Depreciation Expense - Building 11,000 Repairs Expense 8,050 Depreciation Expense - Equipment 6,550 Miscellaneous Expense 4,300 922,690 922,690 40,750 40,750 Adjusted Trial Balance Dr. Cr. 11,800 48,800 840 200 98,000 450,000 241,000 107,000 93,850 21,690 5.900 75,000 145,000 10,000 375,000 165,900 18,000 4,000 11,000 2,000 11,000 8,050 6.550 4,300 957,440 957,440 5.900 Instructions a. Prepare an income statement for the year ended December 31. b. Prepare a retained earnings statement for the year ended December 31. c. Prepare a balance sheet as of December 31, d. Based upon the end-of-period spreadsheet, journalize the closing entries. e. Prepare a post-closing trial balance