The general ledger of Zips Tutoring Services at December 1, 2021, includes the following account balances: Accounts Credits Debits $ S $ $ $ $ 28,350 7,700 3,500 2000 24,000 68,000 Cash Accounts Receivable Prepaid Insurance Supplies Land Building Accumulated Depreciation, Building Accounts Payable Deferred Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Depreciation Expens Utilities Expense Supplies Expense Insurance Expense Rent Expense Property Tax Expense $ $ $ $ $ 4.000 3350 6.900 75.000 36.250 $ $ 1400 $ 30330 6,180 3,300 900 $ $ S $ $ $ $ 2500 8.250 1,750 $ 157830 $ 157,830 Required: 1. Post the transactions recorded in the in-class portion of the exam to the general ledger. (17 points) 2. Record the adjusting entries in the general journal (8.5 points) a. The annual insurance policy in the amount of $6,000 was purchased on July 1 and has been adjusted through the end of November. b. Supplies remaining on hand at the end of the year equal $4,550. c. $5,900 of the deferred revenue has been earned. d. Depreciation on the building is $300 for December. 3. Post the adjusting entries (4 points) 4. Complete the: a. income statement (6 points), b. statement of stockholders' equity (8.5 points) and c. balance sheet as of December 31, 2021 (9 points). 5. Record the closing entries in the general journal (12.5 points) 6. Post the closing entries to the general ledger (6 points) 7. Prepare a post-closing trial balance (6 points). GENERAL JOURNAL Page: 14 DATE DESCRIPTION POST REF DEBIT CREDIT 12021 2 Dec 5.500 Cash Accounts Receivable 3 5.500 4 Customers paid 5 6 1,500 7 3 Rent Expense Cash Paid Decembers Rent 1.500 9 10 25,000 11 10 Cash Common Stock Sold Common stock 25,000 12 13 14 6,200 15 18 Supplies Accounts Payable Purchased supplies 6.200 16 12 18 1,400 19 22 Utilities Expense Accounts Payable Received utility bill 1.400 20 21 22 23 5.400 28 Accounts Payable Cash Paid bills in accounts payable 5,400 24 25 26 13.100 5,200 27 30 Cash Accounts Receivable Service Revenue Provided by tutoring services 28 18.300 29 30 31 1,600 32 31 Salaries Expense Cash Paid employees 1.600 33 34 35 36 37