Following is the unadjusted trial balance of Providence Corporation at the end of its first year of

operations, December $31,2022$:

Balance

Acct. No$.$ Account Debit Credit

$101$ Cash $5,500$

$110$ Accounts receivable $3000$

$161$ Prepaid insurance $4,200$

$173$ Unused supplies $600$

$184$ Truck $7,000$

$194$ Acc. dep. $$ truck $0$

$210$ Accounts payable $5,800$

$226$ Salaries payable $0$

$248$ Unearned rent revenue $2,000$

$260$ Income taxes payable $0$

$320$ Share capital $7,000$

$350$ Dividends $1,000$

$410$ Commissions earned $17,000$

$440$ Rent earned $0$

$610$ Advertising expense $200$

$615$ Commissions expense $1,000$

$624$ Dep. expense $$ truck $0$

$631$ Insurance expense $0$

$632$ Interest expense $400$

$654$ Rent expense $3,600$

$656$ Salaries expense $5,000$

$668$ Supplies expense $0$

$669$ Telephone expense $300$

$830$ Income taxes expense $0$

$31,80031,800$

The following additional information is available:

a$.$ Prepaid insurance at December $31$ amounts to $$400.$

b$.$ A physical count indicates that $$600$ of supplies is still on hand at December $31.$

c$.$ The truck was purchased on July $1$; it has an estimated useful life of $7$ years.

d$.$ One day of salaries for December $31$ is unpaid; the unpaid amount of $$8500$ will be included

in the first Friday payment in January.

e$.$ The balance in the Unearned Rent Revenue account represents six months rental of warehouse

space, effective October $1.$

f$.$ A $$500$ bill for December telephone charges has not yet been recorded.

g$.$ Income taxes expense for the year is $$900.$ This amount will be paid in the next fisca

$1.$ Prepare all necessary adjusting entries at December $31,2022,$ including general ledger account

numbers. Descriptions are not needed.

$2.$ Prepare an adjusted trial balance at December $31,2022.$

$3.$ Prepare an income statement, statement of changes in equity, and statement of financial

position.

$4.$ Prepare closing entries including general ledger account numbers and descriptions.

$5.$ Prepare a post$$closing trial balance.