Third Step

At year end 31/12/2019, the following information are avaiable for you. a. Insurance expired during the year, $2,000. b. Depreciation on furniture and equipment, 15000 per year c. A count of supplies on December 31, 2018, indicates that supplies of E5800 are on hand. d. Adam Company performed disinfecting services for a client in December 2018. The client will be billed 3,000. e. Salaries of 8000 are unpaid and due. Second: Prepare the necessary adjusting entries and then prepare the trial balance after the adjusting entries. Third: Prepare the Income Statement, Retained Eamings statement, and financial positon statement at 31/12/2019 Fourth: Prepare the necessary closing entries. Fifth: prepare a post-closing trial balance Unadujsted Trial Balance Debit Credit Cash 12,000 Share Capital 99,000 Land Purchase 43,200 Account Receivable 45,200 Equipment 1,10,000 Service Revenue 3,10,000 Supplies 10,800 Accounts Payable 10,800 Prepaid Insurance 4,800 Utilities Expense 12,800 Salaries Expense 50,000 Rent Expense 131,000 Total 4,19,800 4,19,800