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The unadjusted trial balance as of December 31, 2018, for the Bagley Consulting Company appears below. December 31 is the companys fiscal year-end Account Title Debits Credits Cash Accounts receivable Prepaid insurance Land Buildings Accumulated depreciation-buildings Office equipment Accumulated depreciation-office equipment Accounts payable Salaries and wages payable Deferred rent revenue Common stock Retained earnings Sales revenue Interest revenue Rent revenue Salaries and wages expense Depreciation expense Insurance expense Utility expense Maintenance expense Totals 2,750 6,500 2,600 185,000 45,000 18,000 78,000 31,200 27,100 180,000 44,700 74,500 3,200 3,600 27,000 18,700 16,750 382,300 382,300a. The buildings have an estimated useful life of 50 years with no salvage value. The company uses the straight-line depreciation method. b. The office equipment is depreciated at 10 percent of original cost per year. c. Prepaid insurance expired during the year, $1,300. d. Accrued salaries and wages at year-end, $1,000. e. Deferred rent revenue at year-end should be $550. Required: 1. From the trial balance and information given, prepare adjusting entrie:s 2. Post the beginning balances and adjusting entries into the appropriate t-accounts 3. Prepare an adjusted trial balance. 4. Prepare closing entries 5. Prepare a post-closing trial balance.

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Answer #1

The answer has been presented in the supporting sheets. All the parts has been solved with detailed explanation and with complete details. All the adjustment enteries has been passed and t shape accounts has been prepared. For detailed answer refer the supporting sheets.

edl De Ale oKec 2 I b 1800 ToRecerd DepReciaion expanse gacarde inburance expanse AlcDR 130 Pre paid inturance Al PaycbleAc Galasies enDATE PAGE 0 Clains balance 3120.0 eins balanceDATE PAGE No 0c aPhlea bleALoro M1 Oa balance$3a 0 Rent enua A Closing balance paring bal lanceDATE PAGE No. Account Recisuable balance $ 6500 ims bal Loro RS balarce CCO bsleuce Opengbalas ce 4180000 Cle Sales Reuanus ㄅ

やPAGE Na intszatRevenus C lasins balance ening halence lehoo ahce 163 ne balonce

DATE PAGE No 2 Ardj DebitGerit Cash Account Recieviasl 6500 min 300 Lard 185000 lou, as a,d.sag ел.yohle 550 18o intorost Reven 3200 evenus es e 200

DATE PAGE Path DebitGcht 805 $ 8 150 300 epense Al $16750 CDR 3300

PAGE No Account Cauh Account Recievabl Prepaid induranc e ד7e1e Debib S00o בר 3 0. 55ο ! 180000-1 irl Lexant R.ryRe、i.naA 44470。-473 。

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