the unadjusted trial balance as of December 31, 2021, for the bagley consulting company appears below. December 31 is the company's reporting year end

Required

1. Enter the account balance in T accounts

2. From the trial balance and information given, prepare adjusting entries and post to accountsA. the buildings have an estimated useful life of 50 years with no salvage value. the company uses the straight line depreciation method.

B. the office equipment is depreciated at 10 percent of original cost per year.

C. prepaid insurance expired during the year, $1000

D. accrued salaries at year end, $1,500

E. Deferred rent revenue at year-end should be $1,200

3. prepare an adjusted trial balance.

4. prepare closing entries.

5. prepare a post-closing trial balance.

Account Title Debits Credits Cash 8,000 Accounts receivable 9,000 Prepaid insurance 3,000 Land 200,000 Buildings 50,000 Accumulated depreciation-buildings 20,000 100,000 Office equipment Accumulated depreciation-office equipment 40,000 35,050 Accounts payable Salaries payable Deferred rent revenue -0- -0- Common stock 200,000 56,450 Retained earnings Service revenue Interest revenue 90,000 3,000 7,500 37,000 -0- Rent revenue Salaries expense Depreciation expense Insurance expense Utilities expense Maintenance expense -0- 30,000 15,000 Totals 452,000 452,000 Account Title Debits Credits Cash 8,000 Accounts receivable 9,000 Prepaid insurance 3,000 Land 200,000 Buildings 50,000 Accumulated depreciation-buildings 20,000 100,000 Office equipment Accumulated depreciation-office equipment 40,000 35,050 Accounts payable Salaries payable Deferred rent revenue -0- -0- Common stock 200,000 56,450 Retained earnings Service revenue Interest revenue 90,000 3,000 7,500 37,000 -0- Rent revenue Salaries expense Depreciation expense Insurance expense Utilities expense Maintenance expense -0- 30,000 15,000 Totals 452,000 452,000