Question provided us with Adjusted, Unadjusted and Post-closing trial balance sheets. With this information listed below please fill in:

• General Journal (10 transactions)
• Income Statement
• St Owner Equity
• Balance Sheet
• Work Sheet

The Mobility Solutions Company began operations on December 1, 2019. The unadjusted trial balance of the Mobility Solutions Company as of December 31, 2019 is found on the trial balance tab. The following information is required to prepare the necessary adjusting entries for the Mobility Solutions Company found in chapter 3.

1. 1) The balance in Prepaid insurance represents a 24-month policy that went into effect on December 1, 2019. Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any.

2. 2) Based on a physical count, supplies on hand total $4,650. Review the unadjusted balance in Supplies, and prepare the necessary adjusting entry, if any.

3. 3) The equipment is expected to have a 4-year useful life, and be worth about $10,000 at the end of four years. Review the unadjusted balance in Accumulated depreciation, and prepare the necessary adjusting entry, if any.

4. 4) On December 26, the client paid a $9,000 60-day fee in advance, covering December 27 to February 24. Review the unadjusted balance in Unearned Consulting Revenue, and prepare the necessary adjusting entry, if any.

5. 5) Mobility Solutions's sole employee earns $160 per day for a five-day workweek beginning on Monday and ending on Friday. The employee was last paid on Friday, December 26. Review the unadjusted balance in Salaries payable, and prepare the necessary adjusting entry, if any.

6. 6) In the second week of December, Mobility Solutions agreed to provide 30 days of consulting services to a local fitness club for a fixed fee of $3,900. The terms of the initial agreement call for Mobility Solutions to provide services from December 12, 2019, through January 10, 2020, or 30 days of service. The club agrees to pay Mobility Solutions $3,900 on January 10, 2020, when the service period is complete. Review the unadjusted balance in Consulting revenue, and prepare the necessary adjusting entry, if any.

Prepare the required adjusting and closing entries for the Mobility Solutions Company.

• 1 The balance in Prepaid insurance represents a 24-month policy that went into effect on December 1, 2019. Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any.

• 2Based on a physical count, supplies on hand total $4,650. Review the unadjusted balance in Supplies, and prepare the necessary adjusting entry, if any.

• 3The equipment is expected to have a 4-year useful life, and be worth about $10,000 at the end of four years. Review the unadjusted balance in Accumulated depreciation, and prepare the necessary adjusting entry, if any.

• 4On December 26, the client paid a $9,000 60-day fee in advance, covering December 27 to February 24. Review the unadjusted balance in Unearned Consulting Revenue, and prepare the necessary adjusting entry, if any.

• 5Mobility Solutions's sole employee earns $160 per day for a five-day workweek beginning on Monday and ending on Friday. The employee was last paid on Friday, December 26. Review the unadjusted balance in Salaries payable, and prepare the necessary adjusting entry, if any.

• 6In the second week of December, Mobility Solutions agreed to provide 30 days of consulting services to a local fitness club for a fixed fee of $3,900. The terms of the initial agreement call for Mobility Solutions to provide services from December 12, 2019, through January 10, 2020, or 30 days of service. The club agrees to pay Mobility Solutions $3,900 on January 10, 2020, when the service period is complete. Review the unadjusted balance in Consulting revenue, and prepare the necessary adjusting entry, if any.

• 7Prepare the journal entry necessary to close the revenue account(s).

• 8Prepare the journal entry necessary to close the expense account(s).

• 9Prepare the journal entry to close Income Summary.

• 10Prepare the journal entry to close R. Walsh, Withdrawals.

Unadjusted

Mobility Solutions
Trial Balance
December 31, 2017
Account Title	Debit	Credit
Cash	23,505
Supplies	6,200
Prepaid insurance	2,400
Equipment	34,000
Accounts payable		8,200
Unearned consulting revenue		9,000
R. Walsh, Capital		46,000
R. Walsh, Withdrawals	900
Consulting revenue		8,500
Rental revenue		450
Salaries expense	2,720
Rent expense	2,100
Utilities expense	325
Total	72,150	72,150

Post-closing

Mobility Solutions
Trial Balance
December 31, 2019
Account Title	Debit	Credit
Cash	23,505
Accounts receivable	2,600
Supplies	4,650
Prepaid insurance	2,400
Equipment	34,000
Accumulated depreciation - Equipment		500
Accounts payable		8,200
Salaries payable		480
Unearned consulting revenue		8,250
R. Walsh, Capital		46,000
R. Walsh, Withdrawals	900
Consulting revenue		3,650
Rental revenue		450
Depreciation expense	500
Salaries expense	3,200
Rent expense	2,100
Supplies expense	1,550
Utilities expense	325
Total	75,730	67,530