Question

The unadjusted trial balance as of December 31, 2018, for the Bagley Consulting Company appears below. December 31 is the company's fiscal year-end. Debits Credits Account Title Cash 10,200 9,500 3,800 245,000 75,000 Accounts receivable Prepaid insurance Land Buildings Accumulated depreciation-buildings Office equipment Accumulated depreciation-office equipment Accounts payable Salaries and wages payable Deferred re: 30,000 111,000 44,400 30,950 revenue 280,000 49,650 91,000 Common stock Retained earnings Sales revenue Interest revenue 5,400 Rent revenue 6,900 Salaries and wages expense 39,000 Depreciation expense Insurance expense Utility expense Maintenance expense 24,200 20,600 538,300 538,300 Totals

Please do requirement 2,3,4,5

Answer 1

2)

Beg. Bal Cash $10,200.00 Beg. Bal $ Accounts Receivable 9,500.00 Beg. Bal Prepaid Insurance $ 3,800.00 C) Land $245,000.00 $ 1,900.00 Beg. Bal End. Bal. $ 10,200.00 End. Bal. $ 9,500.00 End. Bal. $ 1,900.00 End. Bal. $ 245,000.00 Buildings $75,000.00 Beg. Bal Beg. Bal Office Equipment $111,000.00 Accumulated Depreciation - Building Beg. Bal $30,000.00 $ 1,500.00 End. Bal. $ 31,500.00 Accumulated Depreciation - Office Equip Beg. Bal $ 44,400.00 $ 11,100.00 End. Bal. $ 55,500.00 End. Bal. $75,000.00 End. Bal. $111,000.00 Accounts Payable Beg. Bal $30,950.00 Common Stock Beg. Bal $280,000.00 Salaries and Wages Payable Beg. Bal $ $ $ 1,600.00 Deferred Rent Revenue Beg. Bal $ $ $ 1,100.00 1,600.00 1,100.00 End. Bal. $30,950.00 End. Bal. End. Bal. End. Bal. $280,000.00 Retained Earnings Beg. Bal Sales Revenue Beg. Bal $49,650.00 Rent Revenue 1,100.00 Beg. Bal Interest Revenue Beg. Bal $ 91,000.00 $ 5,400.00 $ $ 6,900.00 End. Bal. $49,650.00 End. Bal. $ 91,000.00 End. Bal. $ 5,400.00 End. Bal. $ 5,800.00 Beg. Bal Depreciation Expense $ $ 1,500.00 $ 11,100.00 End. Bal. $ 12,600.00 Utility Expense $ 24,200.00 Beg. Bal Salaries and Wages Expense Beg. Bal $39,000.00 $ 1,600.00 End. Bal. $ 40,600.00 Insurance Expense $ $ 1,900.00 End. Bal. Beg. Bal $ 1,900.00 End. Bal. $ 24,200.00 Beg. Bal Maintenance Expense $20,600.00 End. Bal. $ 20,600.00

3)

Adjusted Trial Balance
Particulars				Debit	Credit
Cash				$   10,200.00
Accounts Receivable				$     9,500.00
Prepaid Insurance				$     1,900.00
Land				$ 245,000.00
Buildings				$   75,000.00
Accumulated Depreciation - Building					$   31,500.00
Office Equipment				$ 111,000.00
Accumulated Depreciation - Office Equip					$   55,500.00
Accounts Payable					$   30,950.00
Salaries and Wages Payable					$     1,600.00
Deferred Rent Revenue					$     1,100.00
Common Stock					$ 280,000.00
Retained Earnings					$   49,650.00
Sales Revenue					$   91,000.00
Interest Revenue					$     5,400.00
Rent Revenue					$     5,800.00
Salaries and Wages Expense				$   40,600.00
Depreciation Expense				$   12,600.00
Insurance Expense				$     1,900.00
Utility Expense				$   24,200.00
Maintenance Expense				$   20,600.00
				$ 552,500.00	$ 552,500.00

4)

Closing Entries
Particulars				Debit	Credit
Sales Revenue				$ 91,000.00
Interest Revenue				$   5,400.00
Rent Revenue				$   5,800.00
To Income Summary					$ 102,200.00
Income Summary				$ 99,900.00
To Salaries and Wages Expense					$   40,600.00
To Depreciation Expense					$   12,600.00
To Insurance Expense					$     1,900.00
To Utility Expense					$   24,200.00
To Maintenance Expense					$   20,600.00
Income Summary				$   2,300.00
To Retained Earnings					$     2,300.00

5)

Post Closing Trial Balance
Particulars				Debit	Credit
Cash				$   10,200.00
Accounts Receivable				$     9,500.00
Prepaid Insurance				$     1,900.00
Land				$ 245,000.00
Buildings				$   75,000.00
Accumulated Depreciation - Building					$   31,500.00
Office Equipment				$ 111,000.00
Accumulated Depreciation - Office Equip					$   55,500.00
Accounts Payable					$   30,950.00
Salaries and Wages Payable					$     1,600.00
Deferred Rent Revenue					$     1,100.00
Common Stock					$ 280,000.00
Retained Earnings					$   51,950.00
				$ 452,600.00	$ 452,600.00