1) Use the following post-closing (i.c. beginning) trial balance to specify the beginning balances in the T-accounts on pages 3 and 4. The beginning balance for Cash is specified in the T-account already as an example. Company XYZ Post-Closing Trial Balance For the fourth quarter ended December 31, 2019 (in dollars) Debit Credit Cash 10,000 Accounts receivable 20,000 Prepaid expenses - current 1,000 Notes receivable 10,000 Buildings - net 150,000 Equipment - net 50,000 Accounts payable Wages payable Income taxes payable Unearned revenue Notes payable Long-term notes payable Common stock Retained earnings Service revenue Interest revenue Wages expense Repairs expense 10,000 5,000 500 | 10,000 50,000 100,000 50,000 15,500 Cash Accounts receivable 10,000 BB BB BB Prepaid expenses- current Notes receivable Buildings-net Equipment-net BB BB BB Accounts payable Wages payable Taxes payable BB BB BE Unearned revenue Notes payable BB BB Utilities expense Advertising expense Total 0 0 241,000 241,000 2) Show the journal entries for the following transactions and update all associated T-accounts (see pages 3 and 4 for T-accounts). Common stock-par Retained earnings BB a. Company XYZ paid $2,000 for a billboard advertising a discount on snow removal. BB Dr. Cr. b. Company XYZ delivers $1,500 worth of snow removal services. The customer pays $500 in cash and promises to pay $1,000 in the future. Chapters 2-4 Problems: Accounting Cycle 1 c. A customer that previously received snow removal services on account paid $1,500 in cash to Company XYZ. d. A customer with poor credit history gives Company XYZ a down payment of $400 for snow removal services to be provided in the future. Long-term notes payable BB Service revenue Interest revenue Wages expense BB BB BB Repairs expense Utilities expense Advertising expense BB BB BB 4) Use your T-accounts from 2) to create an unadjusted trial balance. Company XYZ Unadjusted Trial Balance For quarter ended March 31, 2020 (in dollars) Cash Accounts receivable Prepaid expenses - current e. Company XYZ provides snow removal services to a customer who had previously paid $2,000 in advance for the services. f. Company XYZ pays $600 to its employees for labor provided in a prior period. g. Company XYZ has equipment repaired, paying $100 in cash for the repair. Notes receivable Buildings - net Equipment - net Accounts payable Wages payable Income taxes payable Unearned revenue Notes payable Long-term notes payable Common stock-par Common stock - APIC Retained earnings Service revenue Interest revenue h. Company XYZ pays $200 for utilities used in the current period. i. Company XYZ receives an interest payment of $100 for interest that accrued in the current period. Wages expense Repairs expense Utilities expense Advertising expense Total Debit Credit