Directions: The following information represent a full case for the same company. You are required to perform the accounting cycle steps as directed. Be organized and neat, your answers should be hand written. *********************************************************************** Transactions for Adam Company for the Adam 2019 are presented below. 1. 1/1/2019 Issued ordinary shares in exchange for $99,000 cash 2. 5/2/2019 Purchased land costing $43,200, for cash. 3. 3/3/2019 Performed a services for company x on account for $310,000. 4. 1/4/2019 Received $264,800 for the services performed on 3/3/2018. 5. 10/5/2019 Purchased Equipment for $110,000 in cash 6. 15/8/2019 Purchased supplies on account for $10800. 7. 14/11/2019 Paid $4800 for a one-year insurance policy. 8. 1/12/2019 paid the following expenses in cash: utilities exp 12800 : salaries exp 50000 : rent exp 131000. First: Journalize each transaction, post and balance to accounts, and then prepare the Unadjusted trial balance. At year end 31/12/2019, the following information are avaiable for you. a. Insurance expired during the year, $2,000. b. Depreciation on furniture and equipment, 15000 per year c. A count of supplies on December 31, 2018, indicates that supplies of 5800 are on hand. d. Adam Company performed disinfecting services for a client in December 2018. The client will be billed 3,000. e. Salaries of 8000 are unpaid and due. Second: Prepare the necessary adjusting entries and then prepare the trial balance after the adjusting entries. Third: Prepare the Income Statement, Retained Earnings statement, and financial positon statement at 31/12/2019 Fourth: Prepare the necessary closing entries. Fifth: prepare a post-closing trial balance