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Information necessary to prepare the year-end adjusting entries appears below. a. The buildings have an estimated useful life of 50 years with no salvage value.

image text in transcribedimage text in transcribed Information necessary to prepare the year-end adjusting entries appears below. a. The buildings have an estimated useful life of 50 years with no salvage value. The company uses the straight-line depreciation method. b. The office equipment is depreciated at 10 percent of original cost per year. c. Prepaid insurance expired during the year, $1,150. d. Accrued salaries at year-end, $850. e. Rent to customers who paid in advance has been provided for $6,700. Required: 1. From the trial balance and information given, prepare adjusting entries. 2. Post the beginning balances and adjusting entries into the appropriate T-accounts. 3. Prepare an adjusted trial balance. 4. Prepare closing entries. 5. Prepare a post-closing trial balance

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