The general ledger of the Karlin Company, a consulting company, at January $1,2024,$ contained the following account balances:

Account Title Debits Credits

Cash $ $30,000$

Accounts receivable $15,000$

Equipment $20,000$

Accumulated depreciation $ $6,000$

Salaries payable $9,000$

Common stock $40,500$

Retained earnings $9,500$

Total $ $65,000$ $ $65,000$

The following is a summary of the transactions for the year:

Provided services, $$100,000,$ of which $$30,000$ was on account and the balance was received in cash.

Collected on accounts receivable, $$27,300.$

Issued shares of common stock in exchange for $$10,000$ in cash.

Paid salaries, $$50,000($of which $$9,000$ was for salaries payable at the end of the prior year$).$

Paid miscellaneous expense for various items, $$24,000.$

Purchased equipment for $$15,000$ in cash.

Paid $$2,500$ in cash dividends to shareholders.

Additional information:

Accrued salaries at year$-$end amounted to $$1,000.$

Depreciation for the year on the equipment is $$2,000.$

Required:

$1$ to $3.$ Prepare a general journal entry for each of the summary transactions listed. Record beginning balances in the T$-$accounts $($on the T$-$accounts tab$).$ Post the journal entries to the T$-$accounts.

$4.$ Using the T$-$account balances, prepare an unadjusted trial balance.

$5.$ Prepare adjusting journal entries using the additional information provided. Post to the T$-$accounts $($on the T$-$accounts tab$).$

$6.$ Using the adjusted T$-$account balances, prepare an adjusted trial balance.

$7-$a$.$ Prepare an income statement for $2024.$

$7-$b$.$ Prepare a balance sheet as of December $31,2024.$

$8.$ Prepare closing entries, and then post to the T$-$accounts $($on the T$-$accounts tab$).$

$9.$ Prepare a post$-$closing trial balance.