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The following information applies to the questions displayed below.) North Star prepared the following unadjusted trial balance at the end of its s December 31

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The following information applies to the questions displayed below.) North Star prepared the following unadjusted trial balance at the end of its s December 31 Credit Debit $ 12,600 6,600 2,520 21,600 Account Titles Cash Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation-Equipment Accounts Payable Income Tax Payable Common Stock Retained Earnings Sales Revenue Salaries and Wages Expense Utilities Expense Rent Expense Depreciation Expense Income Tax Expense $ 1,060 1,060 o 25,400 2,700 51,800 25,600 13,100 0 0 0 Totals $82,020 $82,020 Other data not yet recorded at December 31: a. Rent expired during the year, $1,260. b. Depreciation expense for the year, $1,060. c. Utilities owing, $9,600. d. Income tax expense, $450. 3. Summarize the adjusting journal entries in T-accounts. After entering the beginning balances and computing the adjusted ending balances, prepare an adjusted trial balance as of December 31. Prepaid Ront Rent Expense Beg. Bal Beg. Bat. End. Bal. 0 End. Bal Accumulated Depreciation Equipment Beg. Bal. Depreciation Expense Beg. Bal End. Bal 0 End. Bal 0 Accounts Payablo Utilities Expense Beg. Bal. Beg Bal End. Bal 0 End. Bal Income Tax Payable Income Tax Expense Beg. Bal Beg. Bal End. Bal. 0 End, Bal. 0 NORTH STAR ALB NORTH STAR Adjusted Trial Balance Account Titles Debit Credit Totals $ 0 $ 0

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