Problem Scott Wallace, owner of Wallace Consulting Group, prepared a trial balance listed on the attached work sheet Account Title Trial Balance Debit 105 00 00 Credit 218 00 00 1 5 O od 120000 21 010 0100 380 000 22 00 00 19| 4 4 000 Cash Accounts Receivable Office Supplies Prepaid Insurance Office Equipment Accum. Depr.-Office Equipment Accounts Payable Salaries Payable Scott Wallace, Capital Scott Wallace. Drawing Service Revenue Salaries Expense Rent Expense Advertising Expense Telephone Expense Office Supplies Expense Insurance Expense Depr. Expense Office Equipment Miscellaneous Expense 2670 000 821910 000 2460 000 14800100 250 000 189 0100 135 000 34 600 000 Adjustment data: (a) Office supplies on hand, $450 (b) Insurance expired during the year, $1,025 (c) Depreciation of office equipment, $1,150 (d) Unpaid salaries at year end, $280 Directions: 1. Complete the work sheet for the year ended December 31, 20X1. 2. Journalize adjusting and closing entries. 4 Account Code 5 Account Tilal Balance Debit Credit Adjusting Entries Debit Credit Adjusted Trial Balance Debit Credit Income Statement Debit Credit Balace Sheet Debit 7 8 9 10 12 13 14 15 1 19 General Journal TRY V smartsheet for FREE O 2 3 Date Account Title P.R. Debit Credit 4 5 6 7 8 9 10 1 12 13 14 15 16