Question #t] FA is it 104 Acrobat 4+ #A . -A- A A A A abi = daet cele Adebocode AaBb C AaBbCcc AaBb Cct 2 NAV B 1 U ale X X A A - A Adabe PDF & Silver Lining, Inc., provides investment advisory services. The company adjusts its accounts monthly, but performs closing entries annually on December 31. The firm's unadjusted trial balance dated December 31, current year, appears as follows. SILVER LINING, INC. Unadjusted Trial Balance December 31, Current Year Debits Credits Cash $ 51.402 Accounts receivable 2,400 Office supplies 246 Prepaid rent 1.440 Unexpired insurance 324 Office equipment 64.800 Accumulated depreciation office equipment $ 42,300 Accounts payable 1,680 Interest payable 432 Income taxes payable 2,100 Notes payable 10,800 Unearned consulting services revenue 4,200 Capital stock 36,000 Retained earnings 9,600 Dividends 1,200 Consulting services revenue 72,000 Office supplies expense 726 Depreciation expense: office equipment 9.900 Rent expense 4230 Insurance expense 1,212 Salaries expense 32.520 Interest expense 432 Income taxes expense 8 280 Totals $ 179,112 S 179,112 1,1 LE ( 178 % Question 2 [#] ieit 104 Acrobat 4+ #A Times New R. . - A-A- 6. Ashe A = = abcecie Adebocode AaBb C AaBbCcc AaBb Cct 2 NAV BI Uebe x ale XX A A-A IT TA Adabe PDF & Other Data 1. Accrued but unrecorded and uncolected consulting services revenue totals $1,800 af December 31, current year. 2. The company determined that $3,000 of previousy unearned consulting services revenue has been earned at December 31, curent year. 3. Office supples on hand at December 31 total $132. 4. The company purchased all of is equioment when it first began tusiness. At that time, the estimated useful life of the equipment was six years (72 months) 5. The company prepaid its six-month rent agreement on October 1, current year. 6. The company prepaid its 12-month insurance policy on March 1, cutent year. 7. Accrued butunpaid salaries tota $2,280 at December 31, current year. 8. On June 1. current year, the company borowed $10,800 by signing a 9-month, 6 percent rote payable. The entire amount plus interest, is due on March 1, next year. 9. The company's CPA estimates that income taxes expense for the entire year is $9,000. The unpaid portion of this amount is due early in the next ye year. Required: a-1. Prepare the necessary adjusting journal entries on December 31, current year. a-2. Prepare an adjusted trial balance dated December 31, current year. b-1. From the adusted trial balance prepared in part a-2, prepare an income statement for the year ended December 31, Current year b.2. From the adusted trial balance prepared in part a-2 prepare the statement of retained earnings for the year ended December 31, current year b-3. From the adusted trial balance prepared in part a-2, prepare the company's balance sheet cated December 31, cument year. 1,1 017 LE ) 178 %
