Enter the adjusting journal entries below in the appropriate boxes starting on row 71 (part a).
Post the adjusting journal entries to the worksheet below using columns G and H.
Prepare the trial balance and the financial statements using cell referencing and formulas (part b).
Enter the closing journal entries below in the appropriate boxes starting on row 186 (part c).
Prepare the post-closing trial balance using cell referencing and formulas (part d).

Additional information:
1)	For the Note Payable, Interest is paid on the first day of September for the previous 12 month's interest. The annual interest rate is:
2)	On December 31, 2020, one-quarter of the unearned revenue was still unearned.
3)	A physical count of supplies shows $1,010 on hand on December 31, 2020.
4)	The building has an estimated useful life of 40 years.
5)	The equipment has an estimated useful life of twelve years.
6)	Service revenue earned but not recorded at December 31, 2020, was $8,700.
7)	Salaries of $3,800 have been incurred but are unpaid at December 31, 2020. Payday will be on January 4, 2021.
8)	During the next fiscal year, $20,000 of the note payable is to be repaid.
9)	The 12-month insurance policy was purchased for $4,320 cash on February 1, 2020.

Please follow the instructions, Do not add or delete rows and columns, use proper cell referencing as mentioned in the instructions above every part.

A B B D E F G . J K L M N P R R W 15 Stu-Dent Accounting Services adjusts its accounts monthly. The following is Stu-Dent Accounting Services 's trial balance at December 31, 2020, the company's fiscal year end: Adjusting Entries Debit Credit Closing Entries Debit Credit Credit ..... 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 208,000 Post-closing TB Debit Credit $ 16,250 $ 27.900 $ 840 1,940 $ 150,000 $ 691,200 208,000 $ 36,000 9,500 $ 30,000 20,565 4,400 Stu-Dent Accounting Services Trial Balance December 31, 2020 Debit Cash 16,250 Accounts receivable 27,900 Prepaid insurance 840 Supplies 1,940 Land 150,000 Building 691,200 Accumulated depreciation - building Equipment 36,000 Accumulated depreciation - equipment Copyright 30,000 Accounts payable Unearned revenue Salaries Payable Interest Payable Note payable S. Dent, capital S. Dent, drawings 45,000 Service revenue Depreciation Expense 18,590 Insurance Expense 5,500 Interest Expense 24,750 Salaries Expense 154,000 Supplies Expense. 7,600 Utilities Expense 16,000 9,500 Adjusted TB Debit Credit 16,250 27,900 840 1.940 150,000 691,200 208,000 36,000 9,500 30,000 20,565 4,400 - 5,400 540,000 198.255 45,000 239,450 18,590 5,500 24,750 154,000 7,600 16,000 20,565 4,400 5,400 540.000 198,255 5,400 540,000 198,255 $ 45,000 239.450 239,450 18,590 $ 5,500 $ 24,750 $ 154,000 $ 7,600 $ 16,000 44 45 46 47 $1,225,570$ 1,225,570 $ $ $ 48 49 1,225,570 $1,225,570 $ $1,225,570 $1,225,570 E H K L M N P Q Classified Balance Sheet Put account names for assets in column G, put liabilities and equity in column M A B 145 146 147 Statement of Owners' Equity 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 H K L M N B c D E G 176 177 178 179 Part C Closing Journal Entries 180 181 Record all appropriate closing entries using the General Journal format provided below. 182 Select the most appropriate account name from the drop down list in each space and enter the transaction amount in the DR and CR spaces. 183 No explanations are required. DR CR 185 186 Dec 31 187 188 189 Dec 31 190 191 192 193 194 195 196 197 Dec 31 198 199 200 Dec 31 201 202 203 "Post" your closing entries into the "closing entries" columns (columns K and L) to the right of the Adjusted Trial Balance columns. The closing trial balance amounts (in columns Mand N) will automatically calculate. 204 B E F G H | J M 205 Part D Post-Closing Trial Balance 206 207 Prepare the company's post-closing trial balance. 208 Be sure to use proper titles and formatting. 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 232 233 234 Sheet1 #