Unadjusted Trial balance

December 31, 2014

Debit

Credit

Cash

$60,000

Accounts Receivable

3,500

Prepaid Rent

2,000

Prepaid Insurance

1,600

Supplies

1,050

Land

25,000

Building

50,000

Accumulated Depreciation-Building

$5,000

Equipment

15,000

Accumulated Depreciation-Equipment

2,500

Accounts Payable

13,000

Unearned Revenue

1,500

Notes Payable

20,000

Common Stock

70,000

Retained Earnings

25,650

Dividends

2,500

Service Revenue

40,000

Salaries Expense

9,000

Rent Expense

5,000

Utilities Expense

3,000

Total

$177,650

$177,650

Data needed for adjusting entries (date for all journal entries is 12/31):

A.Salaries owed but not yet paid, $350.

B.$500 of the unearned revenue has now been earned.

C.Prepaid insurance expired, $400.

D.Interest accrued on note payable, $125.

E.Revenue earned, but unbilled, $300.

F.Supplies on hand at December 31, $600.

G.Depreciation on equipment was $2,500.

1.Prepare the adjusting journal entries for Xander Corporation.

2.Open T-accounts for all of the trial balance accounts and post the adjusting entries into the T-accounts and determine ending balances for all accounts.

3.find the adjusted trial balance.

4.Prepare closing entries.

5.calculate the post-closing trial balance.