The unadjusted trial balance as of December 31, 2024, for the Bags Consulting Company appears below. December 31 is the companys reporting year-end.

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

Information necessary to prepare the year-end adjusting entries appears below.

The buildings have an estimated useful life of 50 years with no salvage value. The company uses the straight-line depreciation method.

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

Prepaid insurance expired during the year, $1,000.

Accrued salaries at year-end, $1,500.

Rent to customers who paid in advance has been provided for $6,300.

Required:

From the trial balance and information given, prepare adjusting entries.

Post the beginning balances and adjusting entries into the appropriate T-accounts.

Prepare an adjusted trial balance.

Prepare closing entries.

Prepare a post-closing trial balance.