The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances: Credits Debits 32,300 12,000 19,000 Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 5,700 7,000 43,000 7,600 63,300 63,300 The following is a summary of the transactions for the year. a. Service revenue $110,000, of which $33,000 was on account and the balance was received in cash, b. Collected on accounts receivable $23.200. c. Issued shares of common stock in exchange for $9.500 in cash. d. Paid salaries, $40.000 (of which 57000 was for salaries payable at the end of the prior year). e. Paid miscellaneous expense for various items. $21600 f. Purchased equipment for $12.000 in cash. 9. Paid $2,625 in cash dividends to shareholders. 1 Accrued salaries at year-end amounted to $800. 2 Depreciation for the year on the equipment is $1900. Required: 2.5.& 8. Prepare the summary adjusting and closing entries for each of the transactions listed 3. Post the transactions, adjusting and closing entries into the appropriate t-accounts 4. Prepare an unadjusted trial balance. 6. Prepare an adjusted trial balance 7.0. Prepare an income statement for 2021 7.b. Prepare a balance sheet as of December 31, 2021 Required: 2,5.& 8. Prepare the summary, adjusting and closing entries for each of the transactions listed. 3. Post the transactions, adjusting and closing entries into the appropriate t-accounts. 4. Prepare an unadjusted trial balance. 6. Prepare an adjusted trial balance. 7-o. Prepare an income statement for 2021. 7-b. Prepare a balance sheet as of December 31, 2021 9. Prepare a post.closing trial balance. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 25 and 8 Reg 3 Reg 4 Req6 Red 7A Red 78 Reg 9 Prepare the summary, adjusting and dosing entries for each of the transactions lited. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) No Transaction General Journal Debit Credit 1 2 Cash Accounts receivable Service revenue 77.000 33.000 OOO OO 110,000 2 b Cash Accounts receivable 23. 200 23 200 2 b Cash Accounts receivable 23 200 > 23.200 3 C Cash Common stock 9.500 9.500 4 d. Salaries expense Salaries payable Cash Blo 33,000 7,000 40.000 5 e Miscellaneous expense 21,600 Cash 21,600 6 f Equipment Cash 12.000 12,000 7 1 9 Retained coming 2.625 Cash 2.625 8 Sans expense Salaries payable 800 800 9 1 Depreciation expense Accumulated depreciation * 1900 1.900 7 9 Retained earnings Cash 2,625 2,625 rts h 800 Salaries expense Salaries payable OS 800 9 1,900 Depreciation expense Accumulated depreciation 1,900 10 110,000 Service revenue Retained earings 110.000 11 k Retained earnings Salaries expense Miscellaneous expense Depreciation expense OO 1 21,600 1.900 Req3 > Req 25 and 8 Reg 3 Reg 4 Reg 6 Req 7A Req 7B Reg 9 Post the transactions, adjusting and closing entries into the appropriate t-accounts. (Enter the letter of the transaction in the column next to the amount.) Beg bal a Cash 32,300 77.000 23,200 9,500 Beg bal a Accounts Receivable 12.000 33,000 23,200 d. b. b e 40,000 21,600 12,000 2,625 0 9 End, bal 65,775 End bal 21,800 Beg bal Equipment 19,000 12,000 Beg bal Accumulated Depreciation 5.700 1,900 Adjusting 1 . End bal 31.000 End bal 7.600 Beg bal d Salarles Payable 7 000 7.000 800 Bog bal Common Stock 43,000 9.500 Adjusting C. End bal 800 End bal 52,500 Dividends 0 Beg bal. Retained Earnings 7,600 2,625 Beg bal g X Closing End bal 4.975 End bal Service Revenue 0 Miscellaneous expense 0 Beg bal Beg bal. End, bal End bal Salaries Expense Depreciation Expense 0 Beg bal Beg bal End bal End bal Complete this question by entering your answers in the tabs below. Req 2 5 and 8 Req3 Reg 4 Reg 6 Req 7A Reg 9 Req 7B Prepare an unadjusted trial balance. Credits KARLIN COMPANY Unadjusted Trial Balance Account Title Debits Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Dividends Service revenue Salaries expense Miscellaneous expenses Totals S S 0 Answer is not complete. Complete this question by entering your answers in the tabs below. Req 25 and 8 Reg 3 Reg 4 Reg 6 Reg 7A Reg 7B Req 9 Prepare an adjusted trial balance. Credits KARLIN COMPANY Adjusted Trial Balance Account Title Debits Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Dividends Service revenue Salaries expense Miscellaneous expenses Depreciation expense Totals S 0 $ 0 Answer is not complete. Complete this question by entering your answers in the tabs below. Req 25 and 8 Reg 3 Req 4 Reg 6 Req Req 7B Reg 9 Prepare an income statement for 2021. KARLIN COMPANY Income Statement For the Year Ended December 31, 2021 olo KARLIN COMPANY Balance Sheet December 31, 2021 Assets 0 0 Liabilities and Shareholders' Equity 0 0 0 S Req 25 and 8 Req3 Req 4 Req 6 Req 7A Req 7B Reese Prepare a post-closing trial balance. KARLIN COMPANY Credits Post-Closing Trial Balance Account Title Debits Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Service revenue Salaries expense Miscellaneous expenses Depreciation expense Totals S 0 $ 0