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Please help me solve. The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below. December 31 is the company's
Please help me solve. The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below. December 31 is the company's reporting year-end. Account Title Credits Debits 15, 100 10,000 4,000 255.000 30,000 32,000 117,000 46,800 31,650 Accounts receivable Prepaid insurance Land Buildings Accumulated depreciation buildings Orice equipment Accumulated depreciation office equipment Nccounts payable Salaries payable Deferred ront revenue Common stock Retained earnings Service revenue Interest revenue Rent Tovoru Salarios exponse Depreciation expense Insurance expense Utilities expense Maintenance expense Totals 300,000 50, 550 94,000 5,800 7.300 41,000 25, 200 21,300 568, 600 560, 600 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, $2,000. d. Accrued salaries at year-end, $1.700. e. Deferred rent revenue at year-end should be $1,250. 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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