Completing the Accounting Cycle

Company

Unadjusted Trial Balance

December 31, 2015

Cash$45,572

Accounts Receivable68,980

Cleaning Supplies12,443

Cleaning Equipment40,300

Accumulated Depreciation - Cleaning Equipment23,200

Accounts Payable12,640

Unearned Service Revenue15,650

Common Stock45,000

Retained Earnings70,805

Dividends7,000

Service Revenue95,300

Salaries Expense81,200

Cleaning Supplies Expense7,100

Total262,595262,595

The following information is also available:

The following information is also available:

a.Ending inventory of cleaning supplies, $2,550

b.Depreciation of cleaning equipment for the period, $ 11,000

c.Salaries accrued at the end of the period, $2,425

d.Service revenue still unearned at the end of the period, $ 4,750

e.Service revenue earned but not billed, $ 12,500

Requirements:

1.adjusting journal entries.

2.Post amounts to "T" accounts in ledger. Determine final balances.

3.an adjusted trial balance.

4.Prepare the financial statements:Income Statement, Statement of Retained Earnings, and Balance Sheet.

5.Prepare the closing journal entries, and post to the ledger.

6. post-closing trial balance.

Formatting:

Do NOT use cents (.00) in any records.

Journal entries, adjusting and closing entries do not contain dollar signs or cents.Amounts DO contain commas.

Financial Statements do NOT contain cents but amounts DO contain commas.

The "rules" for dollar signs are:

First number in a new column includes a dollar sign

Use a double underline and a dollar sign for totals on all financial statements

Refer to the text for proper headings and format of financial statements.