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A. Completing the accounting cycle from adjusting entries to post-closing trial balance. The unadjusted trial balance of ABC Company at December 31, 2016, and the
A. Completing the accounting cycle from adjusting entries to post-closing trial balance. The unadjusted trial balance of ABC Company at December 31, 2016, and the data for the adjustments are shown below. ABC Company Unadjusted Trial Balance December 31, 2016 Credit Debit $ 19,880 12,500 1,820 1,600 31,000 $ 7,000 6,200 Account Title Cash Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation - Equipment Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Depreciation Expense - Equipment Supplies Expense Total 5,600 30,000 1,600 22,500 4,000 2,100 $72,900 $72,900 Adjustment data: a. Unearned Revenue still unearned at December 31, $2,300. b. Prepaid Rent still in force at December 31, $1,700. c. Office Supplies used, $1,000. d. Depreciation, $320. e. Accrued Salaries Expense at December 31, $150. Requirements 1. Prepare the adjusting entries and post to the accounts T-accounts have been opened using the trial balance. 2. Prepare an adjusted trial balance. 3. Complete the worksheet for the year ended December 31, 2016. 4. Prepare the income statement, the statement of retained earnings, and the classified Balance Sheet. 5. Prepare the closing entries, and post to the accounts. 6. Prepare a post-closing trial balance
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