Credits Debits 28,400 18,500 32,000 Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 9,600 10,250 49,500 9,550 78,900 78,900 The following is a summary of the transactions for the year: a. Service revenue, $136,000, of which $40,800 was on account and the balance was received in cash. b. Collected on accounts receivable, $27,100. c. Issued shares of common stock in exchange for $16,500 in cash. d. Paid salaries, $49,750 (of which $10,250 was for salaries payable at the end of the prior year). e. Paid miscellaneous expense for various items, $26,800. f. Purchased equipment for $19,000 in cash. g. Paid $3,300 in cash dividends to shareholders. 1. Accrued salaries at year-end amounted to $995. 2. Depreciation for the year on the equipment is $3,200. Required: 2., 5, & 8. Prepare the summary, adjusting and closing entries for each of the transactions listed. 3. Post the transactions, adjusting and closing entries into the appropriate t-accounts. 4. Prepare an unadjusted trial balance. 6. Prepare an adjusted trial balance. 7-a. Prepare an income statement for 2021. 7-b. Prepare a balance sheet as of December 31, 2021. 9. Prepare a post-closing trial balance. Req 25 and 8 Req3 Req 4 Req 6 Req 7A Req 7B Req 9 Prepare the summary, adjusting and closing entries for each of the transactions listed. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 5 6 7 8 9 10 12 > Record the entry to close the revenue accounts using the retained earnings account. Note: Enter debits before credits. Transaction General Journal Debit Credit j. Record entry Clear entry View general journal Req 25 and 8 Req3 Reg 4 Reg 6 Req 7A Reg 7B Req 9 Prepare the summary, adjusting and closing entries for each of the transactions listed. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. Req 25 and 8 Req 3 Reg 4 Reg 6 Req 7A Req 7B Req 9 Prepare an unadjusted trial balance. KARLIN COMPANY Unadjusted Trial Balance Account Title Debits Credits Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Dividends Service revenue Salaries expense Miscellaneous expenses Totals $ 0 $ Complete this question by entering your answers in the tabs below. Reg 25 and 8 Reg 3 Reg 4 Req 6 Req 7A Req 7B Reg 9 Prepare an adjusted trial balance. ........................... KARLIN COMPANY Adjusted Trial Balance Account Title Debits Credits Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Dividends Service revenue Salaries expense Miscellaneous expenses Depreciation expense Totals $ 0 $ 0 Prepare a balance sheet as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) KARLIN COMPANY Balance Sheet December 31, 2021 Assets 0 0 Liabilities and Shareholders' Equity 0 0 $ 0 Complete this question by entering your answers in the tabs below. Req 25 and 8 Req3 Reg 4 Reg 6 Req 7A Req 7B Reg 9 Prepare a post-closing trial balance. KARLIN COMPANY Post-Closing Trial Balance Account Title Debits Credits Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Service revenue Salaries expense Miscellaneous expenses Depreciation expense Totals $ 0 $ 0