Prepare the adjusting entries for each situation for Sibley Co$.,$ which began operations on September

$1,2021.$

a$.$ The company records a $$1,750$ depreciation expense on machinery.

b$.$ Upon inception, the company received $$21,000$ for one$-$year membership revenues. The company also has a calendar year$-$end.

c$.$ The company$$s attorney, who bills at $$42$ per hour and agrees to bill Sibley Co$.$ upon settlement, spent $45$ hours on a legal issue. He expects the issue to be resolved in March of the following year

$26.$ Prepare the closing entry for Sibley Co$.$ when it earned membership revenues of $$5,200$ and rent revenue of $$6,200,$ and it incurred startup expenses of $$1,550,$ wages expense of $$3,400,$ utilities

expense of $$1,900,$ and miscellaneous expense of $$600$

$27.$ Prepare Sibley Co$.$s post$-$closing trial balance. The company$$s accounts on December $31,2021,$include Cash, $$900$; Notes Payable, $$965$; Accounts Receivable, $$1,500$; Accounts Payable, $$2,900$; Janice Sibley, Capital, $$2,185$; Accrued Expenses, $$2,400$; Prepaid Expenses, $$1,275$; Machinery, $$4,000,$ with $$890$ accumulated depreciation; and Land, $$1,665.$

$31.$ Given the following amounts, calculate the working capital.

a$.$ Current assets of $$480$ and current liabilities of $$285.$

b$.$ Total assets of $$5,090,$ long$-$term assets of $$2,050,$ total liabilities of $$3,500,$ and current liabilities of $$2,200.$

c$.$ Total assets of $$8,450,$ long$-$term assets of $$2,600,$ long$-$term liabilities of $$2,200,$ and owner$$s equityof $$1,500$