Apex Consulting Corp.'s November journal entries have been posted to the general ledger for you as shown below. This is similar to how an accounting software package posts automatically. F Debit 60,000 3/Nov Cash Date Explanation 31/Oct Opening balance 1/Nov Issued shares 1/Nov Prepaid for rent Received payment for consulting in advance. 5/Nov Earned and received consulting revenue 10/Nov Received customer payment. 13/Nov Paid for repairs to computers 23/Nov Paid for dinner with client 25/Nov Paid cash for salaries 28/Nov Paid for dinner with client 30/Nov Paid bill for utilities expense 30/Nov Dividends 30/Nov Paid for insurance expense 16.800 440 7,304 GJ1 GJ1 GJ1 GJ2 GJ2 GJ2 GJ3 GJ3 GJ3 GJ3 GJA GJ4 Account No. 101 Credit Balance 203,000 263,000 1,200 261,800 278,600 279,040 286.344 500 285,844 121 285,723 14,450 271,273 90 271, 183 500 270,683 12,600 258,083 600 257.483 F Debit Accounts Receivable Date Explanation 31/Oct Opening balance 2/Nov Earned consulting revenue 6/Nov Earned consulting revenue. 10/Nov Received customer payment Account No. 106 Credit Balance 44.000 51.304 65,912 7,304 58,608 GJ1 GJ2 GJ2 7,304 14,608 Prepaid Rent Explanation Date 1/Nov F GJ1 Debit 1,200 Account No. 131 Credit Balance 1.200 Prepaid for rent Computers Explanation F Debit Date 31/Oct Opening balance. Account No. 151 Credit Balance 24,500 Date Accumulated Depreciation, Computers Explanation Opening balance F Debit Account No. 152 Credit Balance 3,000 31/Oct Machinery Explanation Date 3/Nov F GJ1 Debit 19,200 Account No. 169 Credit Balance 19,200 Received machinery F Debit Accounts Payable Date Explanation 31/Oct Opening balance 3/Nov Received machinery 20/Nov Received bill for utilities expense 26/Nov Received bill for advertising expense 30/Nov Paid bill for utilities expense GJ1 GJ2 GJ3 GJ3 Account No. 201 Credit Balance 53,000 19,200 72,200 500 72,700 800 73.500 73,000 500 Unearned Consulting Revenue Explanation Received payment for consulting in advance. Date 3/Nov Debit F GJ11 Account No. 230 Credit Balance 16,800 16,800 Share Capital Explanation F Debit Date 31/Oct 1/Nov Account No. 301 Credit Balance 169,500 60,000 229,500 Opening balance Issued shares GJ1 Dividends Explanation Date 30/Nov F Debit GJ4 12,600 Account No. 302 Credit Balance 12,600 Dividends Retained Earnings Explanation F Debit Date 31/Oct Opening balance Account No. 318 Credit Balance 46,000 Debit Date 2/Nov 5/Nov 6/Nov Consulting Revenue Earned Explanation Earned consulting revenue Earned and received consulting revenue Earned consulting revenue F GJ1 GJ2 GJ2 Account No. 403 Credit Balance 7,304 7,304 440 7,744 14,608 22,352 Salaries Expense Explanation Date 25/Nov F GJ3 Debit 14,450 Account No. 622 Credit Balance 14,450 Paid cash for salaries Date 30/Nov Insurance Expense Explanation Paid for insurance expense F GJ4 Debit 600 Account No. 635 Credit Balance 600 Date 26/Nov Advertising Expense Explanation Received bill for advertising expense F GJ3 Debit 800 Account No. 655 Credit Balance 800 Date 23/Nov 28/Nov Food and Drinks Expense Explanation Paid for dinner with client Paid for dinner with client F GJ3 GJ3 Debit 121 90 Account No. 668 Credit Balance 121 211 Date 13/Nov Repair Expense Explanation Paid for repairs to computers F GJ2l Debit 500 Account No. 684 Credit Balance 500 Date 20/Nov Utilities Expense Explanation Received bill for utilities expense F GJ2 Debit 500 Account No. 690 Credit Balance 500 a) Prepare an unadjusted trial balance at November 30, 2014. HINT: Where do you get the information needed to prepare the unadjusted trial balance? Apex Consulting Corp. Unadjusted Trial Balance November 30, 2014 Debit Credit Totals b) What is the next step in the accounting cycle? O Prepare financial statements O Prepare closing entries O Prepare a post-closing trial balance O Post transactions O Prepare adjusting entries O Prepare an adjusted trial balance This is the last step Analyze and journalize transactions