Tucker Corporation Unadjusted Trial Balance At December 31, 2021

No. Account Debit Credit

100 Cash $ 3,000

110 Accounts Receivable 2,000

150 Prepaid Insurance 5,000

160 Supplies 2,500

180 Land 50,000

185 Building 200,000

190 Acc. Dep. Building -

200 Accounts Payable 10,000

215 Wages Payable 20,000

220 Building Maintenance payable 1,000

225 Interest payable 3,000

230 Unearned Revenue 5,000

235 Income Tax Payable 10,000

300 Share Capital 100,500

320 Dividends 10,000

325 Retained Earnings

500 Service Revenue 270,000

520 Rent Revenue 10,000

600 Advertising Expense 6,000

610 Accounting Expense 18,000

615 Depreciation Expense 4,000

620 Insurance Expense 8,000

625 Interest Expense 2,000

630 Building Maintenance Expense 15,000

635 Wages Expense 90,000

640 Supplies Expense 3,000

650 Telephone Expense 1,000

800 Income Tax Expense 10,000

Total $ 429,500 $ 429,500

NOTE--- DEBIT--- 100, 110, 150, 160, 180, 185, 320, 600, 610, 615, 620, 625, 630, 635, 640, 650, 800

REST ARE CREDITS

The following additional information is available:

a) The prepaid insurance was for a 10-month insurance policy purchased on October 1, 2021.

b) A physical count of supplies inventory shows $500 of supplies still on hand.

c) The building was purchased on January 1, 2021. It has an estimated useful life of 10 years and will have a salvage value of 160,000.

d) 3 days of wages were earned by employees in the last week of December totalling $5,000. Payday for these wages is in January.

e) The balance in unearned revenue is for a five-month contract started on November 1. The prepayment was deposited into our bank account that day and no adjustments have been made to the unearned revenue account as of yet.

f) A $1,000 bill for building maintenance expenses that was completed in December has not yet been recorded in our accounting records.

g) Income tax expense for the year is actually $13,000. This amount will be paid next year.

Required: 1. Prepare all necessary adjusting entries for the end of the year in the general journal. Use the letters (a,b,c) instead of the date for the entries

2. Prepare an adjusted trial balance at December 31, 2021.

3. Prepare an income statement, statement of changes in equity, and statement of financial position (in report format).

4. Prepare closing entries in the general journal.

5. Prepare a post-closing trial balance.