The trial balance for Sigma Consultants Corporation on December 31, 2011, follows.

The following information is also available:

a. Ending inventory of office supplies, $97.

b. Prepaid rent expired, $500.

c. Depreciation of office equipment for the period, $720.

d. Interest accrued on the note payable, $600.

e. Salaries accrued at the end of the period, $230.

f. Service revenue still unearned at the end of the period, $1,410.

g. Service revenue earned but not billed, $915.

h. Estimated federal income taxes for the period, $2,780.

REQUIRED

1. Open T accounts for the accounts in the trial balance plus the following: Interest Payable, Salaries Payable, Income Taxes Payable, Office Supplies Expense, Depreciation Expense—Office Equipment, Interest Expense, and Income Taxes Expense. Enter the account balances.

2. Determine the adjusting entries and post them directly to the T accounts.

3. Prepare an adjusted trial balance.

4. What financial statements does each of the above adjustments affect? What financial statement is not affected by the adjustments?

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Sigma Consultants Corporation Trial Balance December 31, 2011 Cash Accounts Receivable Office Supplies Prepaid Rent Office Equipment Accumulated DepreciationOffice Equipment Accounts Payable Notes Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Utilities Expense Rent Expense 13,786 24,840 991 1,400 7,300 2,600 1,820 10,000 2,860 11,000 19,387 15,000 58,500 33,400 1,750 7,700 106,167 106,167