Solutions Company

The following is the year-end unadjusted trial balance for Solutions Company.

Solutions Company - Unadjusted Trial Balance as of December 31.

Account Titles	Unadjusted Trial Balance Dr.	Unadjusted Trial Balance Cr.
100: Cash	20,000
110: Accounts Receivable	0
120: Supplies	7,600
160: Machinery	50,000
161: Accumulated Depreciation		20,000
200: Accounts Payable		0
205: Interest Payable		0
210: Salaries Payable		0
230: Unearned Rental Fees		7,200
240: Note Payable		30,000
300: Common Stock		10,000
310: Dividends	9,500
320: Retained Earnings		14,200
400: Rental Fees		32,450
600: Salaries Expense	24,500
610: Interest Expense	2,250
620: Supplies Expense	0
630: Depreciation Expense	0
	113,850	113,850
Totals

Requirements:

. Prepare year-end adjusting journal entries for each of these separate situations. I recommend creating a chart using the Table icon (or ) in the toolbar above your answer box. A chart will allow you to quickly format your answer.

1. As of December 31, employees had earned $400 of unpaid and unrecorded wages. The next payday is January 4 at which time $1,200 in wages will be paid.
2. The cost of supplies still available at December 31 is $3,450.
3. The notes payable requires an interest payment to be made every three months.The next payment occurs after the new year begins. The amount of unrecorded accrued interest at December 31 is $800.
4. Analysis of the unearned rental fees shows that $3,200 remains unearned at December 31.
5. In addition to the machinery rental fees included in the revenue account balance, the company has earned another $2,450 in unrecorded fee that will be collected on January 31 of next year.
6. Depreciation expense for the year is $3,800.

Prepare an income statement for the year-ended December 31.

Prepare a statement of retained earnings for the year-ended December 31

Prepare a balance sheet for the year-ended December 31

Prepare the closing entries for the year-ended December 31