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.

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. Account TitleDebits Credits Cash7,900 Accounts receivable9,250 Prepaid insurance3,700 Land240,000 Buildings72,500 Accumulated depreciation—buildings 29,000 Office equipment108,000 Accumulated depreciation—office equipment 43,200 Accounts payable 30,600 Salaries and wages payable 0 Deferred rent revenue 0 Common stock 270,000 Retained earnings 49,200 Sales revenue 89,500 Interest revenue 5,200 Rent revenue 6,600 Salaries and wages expense38,000 Depreciation expense0 Insurance expense0 Utility expense23,700 Maintenance expense20,250 Totals523,300 523,300 From the trial balance and information given, prepare the adjusting entries. Post the beginning balances and adjusting entries into the appropriate t-accounts. Prepare adjusted trial balance. Prepare closing entries. Prepare post-closing trial balance.

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. Account TitleDebits Credits Cash7,900 Accounts receivable9,250 Prepaid insurance3,700 Land240,000 Buildings72,500 Accumulated depreciation—buildings 29,000 Office equipment108,000 Accumulated depreciation—office equipment 43,200 Accounts payable 30,600 Salaries and wages payable 0 Deferred rent revenue 0 Common stock 270,000 Retained earnings 49,200 Sales revenue 89,500 Interest revenue 5,200 Rent revenue 6,600 Salaries and wages expense38,000 Depreciation expense0 Insurance expense0 Utility expense23,700 Maintenance expense20,250 Totals523,300 523,300 From the trial balance and information given, prepare the adjusting entries. Post the beginning balances and adjusting entries into the appropriate t-accounts. Prepare adjusted trial balance. Prepare closing entries. Prepare post-closing trial balance.

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