7. Based on the worksheet, please complete each financial statement. 3. Prepare Trial Balance Don't forget the appropriate heading Company Name: Maui Travel Agency Date: January 31, 2017 Total If these mumbers do not match, please check your work again. 59 6. Complete the Worksheet 60 If an account has balance of 'zero', put ' 0 ' in the cell 61 o will annear as "' If's OK A Close Dividends account and reduce the corresponding amount from retained earnings 9. Complete the post-closing trial balance Cash Equipment Accumulated Depreciation - Equipment Accounts Receivable Accrued Salaries Payable Common Stock Retained Earnings Total Debit s s If these mumbers do not match, please check your ? r. Clnce Tncome Summarv account and transfer balance to retained earnings 4. The followings are adjustments at the end of month. Prepare journal entry for adjustments a. Depreciation for equipment ($500) has not been recorded yet. b. Salaries expense ($5,000) has been incurred but not recorded yet. c. Provided service ($5,000) but not received or recorded yet 5. Prepare Adjusted Trial Balance Don't forget the appropriate heading, $ sign, and double underline Company Name: Maui Travel Agency Date: January 31, 2017 Cash Equipment Accumulated Depreciation - Equipment Accounts Receivable Accounts Payable Accrued Salaries Payable Common Stock Dividends 468 . You are required to close all temporary accounts to prepare for the next accounting period 47 After closing entries, you are required to provide "Post-closing Trial Balance". 37 38 Account Title: Cash \begin{tabular}{|c|c|c|c|c|} \hline & Explanation & Debit & Credit & Balance \\ \hline a. & & & & \\ \hline b. & & & & \\ \hline . c. & & & & \\ \hline e. & & & & \\ \hline f. & & & & \\ \hline g & & & & \\ \hline \end{tabular} Account Title: Common Stock \begin{tabular}{|l|l|l|l|l|} \hline 49 & Explanation & . Debit & Credit & Balance \\ \hline 50 & & & & \\ \hline \end{tabular} 51 52 53 \begin{tabular}{|l|l|l|l|l|} 54 & Explanation & Debit & Credit & Balance \\ \hline 55 & b. & & & \\ \hline 56 & & & & \\ \hline \end{tabular} 58 Account Title: Equipment \begin{tabular}{|l|l|l|l|l|} 59 & Explanation & Debit & Credit & Balance \\ \hline 61 & c. & & & \\ \hline 61 & & & & \\ \hline \end{tabular} 62 Account Title: Advertising Expense \begin{tabular}{|l|l|l|l|l|} 664 & & Debit & Credit & Balance \\ \hline 66 & Explanation & & & \\ \hline 656 & & & \end{tabular} 67 68 Account Tite: Accounts Payable \begin{tabular}{|l|l|l|l|l|l|} \hline 69 & & Explanation & Debit & Credit & Balance \\ \hline 70 & d. & & & \\ 71 & g. & & & \\ 72 & & & & \\ \hline \end{tabular} On January 1, 2017, Maui Travel Agency, Inc. was established. The following transactions were completed during the month. a. Stockholders invested $40,000cash, receiving common stock in exchange b. Paid $1,000 cash for January office rent c. Purchased office equipment for $5,000 cash d. Incurred $5,000 of advertising expenses in the Daily Maui, on account e. Earned $25,000 for services rendered: Cash of $12,000 is received from customers, and the balance of $13,000 is billed to customers on account f. Paid $750 cash dividend g. Paid Daily Maui amount due in transaction (d) 2. Post above transactions on the ledger