b. The office equipment is depreciated at 10 percent of original cost per year.

c. Prepaid insurance expired during the year, $1,000.

d. Accrued salaries at year-end, $1,500.

e. Rent to customers who paid in advance has been provided for $6,300.

Required:

From the trial balance and information given, prepare adjusting entries.

Post the beginning balances and adjusting entries into the appropriate T-accounts.

Prepare an adjusted trial balance.

Prepare closing entries.

Prepare a post-closing trial balance.

The unadjusted trial balance as of December 31, 2024, for the Bags Consulting Company appears below. December 31 is the company's reporting year-end. Information necessary to prepare the year-end adjusting entries appears below. a. The buildings have an estimated useful life of 50 years with no salvage value. The company uses the straight-line depreciation method