Question 5 Given below is the post-closing trial balance of Bridal Services, Inc. as of Feb 28, 2022: Debit Credit Cash $ 12,420 Accounts Receivable $ 11,500 Supplies $ Prepaid Insurance $ 5,000 Office Equipment $ 20,000 Accumulated Depreciation - Equipment $ 3,000 Accounts Payable $ 9,700 Notes Payable $ 9,000 Interest Payable S 120 Unearned Service Revenue $ 3,000 Common Stock $ 16,000 Retained Earnings $ 8,100 $ 48,920 $ 48,920 The March transactions were as follows. Mar 1 Rent of $2,100 was paid for two months in advance. Received $600 from customers in payment of 3 their accounts 10 Paid employee salaries $2,500. 11 Performed cash services of $1,400 19 Paid $900 to creditors for accounts payable due. 25 Bought supplies amounting to $1,100. 28 Paid dividends in the amount of $500. Additional information: 1. Revenue earned but not yet billed is $1,800. 2. On January 1, 2022, Bridal Services received a $6,000 cash retainer for services to be provided rateably over the next 3 months. The full amount was credited to the Unearned Revenue a/c. 3. At the end of March 31, the company had yet to pay the month's utility bill of $350 4. A physical count of supplies shows an amount of $800 on hand. 5 A one-year insurance policy was bought in January 2022 for $6,000. The insurance policy was effective from January 1, 2022. 6. The notes payable is dated January 1. It is a 24-month, 8% note. Required: (23 marks) Answer question sections (a) to (e). (a) When was the reporting date that Bridal Services last prepare financial statements and why? State clearly the financial period end date. (b) Calculate the amount of Retained Earnings after the closing entries as of 31 March 2022. 8 (c) Journalize the transactions for the month of March. No narration is required. (d) Prepare the unadjusted Trial Balance as of March 31, 2022. You have to follow the sequence in (f) when preparing the Trial Balance. (e) Based on the additional information given, prepare the adjusted Trial Balance as of March 31, 2022. You have to follow the sequence in (f) when preparing the Trial Balance. (f) Trial balance by a/c name Cash Accounts Receivable Supplies Prepaid Insurance Office Equipment Accumulated Depreciation Office Equipment Accounts Payable Notes Payable Interest Payable Unearned Service Revenue Oncarned Service Common Stock Interest Expense Service Revenue service Salaries and Wages Expense D Dividends Datainer Retained Earnings Prepaid Rent Supplies Expense Insurance Expense Rent Expense Utilities Expense Utilities Payable