C. LONTOC INFORMATION SYSTEM COMPANY

UNADJUSTED TRIAL BALANCE

DECEMBER 31, 2004

Acc. No. Account Title DEBIT CREDIT

CASH 45,000

NOTES RECEIVABLE 360,000

ACCOUNTS RECEIVABLE 156,000

OFFICE SUPPLIES 63,000

LAND 300,000

BUILDING 1,590,000

ACCUMULATED DEPRECIATION BUILDING 254,000

EQUIPMENT 2,150,000

ACCUMULATED DEPRECIATION EQUIPMENT 612,000

ACCOUNTS PAYALBE 213,000

UNEARNED CONSULTING REVENUES 450,000

LONTOC, CAPITAL 2,655,00

LONTOC, WITHDRAWAL 600,000

CONSULTING REVENUES 2,108,000

SALARIES EXPENSE 875,000

REPAIR EXPENSE 116,000

MISCELLENEOUS EXPENSE 37,000

TOTALS 6,292,000 6,292,000

A. Office supplies on hand as of Dec 31 2004 is 21,000

B. One-third of the unearned revenues has been earned as in december 31 2004

C. Depreciation for the year amounted to 38,000 for the building and 123,000 for the equipment

D. Salaries in the amount of 14,000 have accrued at year end

E. The notes receivable were accepted from several customers. The notes were issued on September 1 2004 and will be settled together with a 20% interest on may 31 2005

Required:

Journalize the adjusting entries

Adjusted trial balance

Financial statements (income statement , statement of equity, and balance sheet)

Journalize the closing entries

Post-closing trial balance