The unadjusted trial balance as of December 31 2013 for
The unadjusted trial balance as of December 31, 2013, for the Bagley Consulting Company appears below.
December 31 is the company’s fiscal year-end.

1. Enter the account balances in T-accounts.
2. From the trial balance and information given, prepare adjusting entries and post to the accounts.
a. The buildings have an estimated useful life of 50 years with no salvage value. The company uses the straight-line depreciation method.
b. The equipment is depreciated at 10 percent of original cost per year.
c. Prepaid insurance expired during the year, $1,500.
d. Accrued salaries at year-end, $1,500.
e. Unearned rent revenue at year-end should be $1,200.
3. Prepare an adjusted trial balance.
4. Prepare closing entries.
5. Prepare a post-closing trialbalance.
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