A completed worksheet for The Best Group is given below. THE BEST GROUP Worksheet Month Minded December 31, 2011 Adjustments Debit Credit Tri Walance Debit Credit 93,400 13,000 8.000 32.000 35.000 (6) 3.400 b) 4.000 Adjusted Trial Balance Debit Credit 93,400 13.000 4,600 20.000 85.000 3.400 13,000 142.000 9.400 103,500 (e) 3.400 Account line Cash Accounts receivable Supplies Prepaid advertising qalment Accumulated depreciation Equipment Recounts payable Randy Best, Capital Randy test. Drawing Fees income Suppl Les expense Advertising expense Depreciation expense-Equipment Salarie expense Utilities expense Total Net income 13.000 142.000 9.400 Income Stat Balance Sheet Debit Credit Debit Credit 93,400 13,000 4.600 20.000 05.000 3.400 13.00 142.00 9.400 103,500 3,400 4,000 3.400 15.400 2.300 28,500 103,500 233,400 158.400 75.000 75.000 103,500 103,500 233,400 333,400 103,500 3,400 (a) 3.400 (b) 6,000 (e) 1,400 15,400 2.300 258,500 250, 500 4.000 3,400 15,400 2.300 10,000 261,900 261.900 10,800 Required: 1. Record the adjusting entries in the general journal (transactions 1-3) 2. Record the closing entries in the general journal transactions 4-7) 3. Post the adjusting entries and the closing entries to the general ledger accounts. Hint Be sure to enter beginning balances. 4. Prepare a postclosing trial balance Required: 1. Record the adjusting entries in the general journal (transactions 1-3). 2. Record the closing entries in the general journal (transactions 4-7). 3. Post the adjusting entries and the closing entries to the general ledger accounts. Hint: Be 4. Prepare a postclosing tril balance. Analyze: How many accounts are listed in the adjusted and postclosing trial balance section? Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Analyze Record the adjusting entries and the closing entries in the general journal. View transaction list Journal entry worksheet Record the adjusting entry for supplies. Req 1 and 2 Req3 Reg 4 Analyze Record the adjusting entries and the closing entries in the general journal. View transaction list X: 1 Record the adjusting entry for supplies. 2 Record the adjusting entry for advertising. 3 Record the adjusting entry for depreciation. 4 Record the closing entry for revenue. Crec 5 Record the closing entry for expense. 6 Record the closing entry for the balance of income summary Record the closing entry for the drawing account. Note : journal entry has been entered Account No: 121 Supplies Date Account No: 131 Credit Balance Debit Credit Balance Prepaid Advertising Date Debit Dec 31, 20X1 Dec 31, 20X1 Dec 31, 20X1 Dec 31, 20X1 Account No: 142 Account No: 301 Accumulated Depreciation Equipment Date Debit Dec 31, 20X1 Credit Balance Credit Balance Randy Best, Capital Date Debit Dec 31, 20X1 Dec 31, 20X1 Dec 31, 20X1 Account No: 302 Credit Balance Account No: 309 Credit Balance Randy Best Drawing Date Debit Dec 31, 20X1 Dec 31, 20X1 Income Summary Date Debit Dec 31, 20X1 Dec 31, 20X1 Dec 31, 20X1 Account No: 401 Credit Balance Account No: 511 Credit Balance Debit Fees Income Date Dec 31, 20X1 Dec 31, 20x1 Salaries Expense Date Debit Dec 31, 20X1 Dec 31, 20X1 Account No: 514 Credit Balance Debit Utilities Expense Date Dec 31, 20X1 Dec 31, 20X1 Account No: 517 Credit Balance Supplies Expense Date Debit Dec 31, 20X1 Dec 31, 20X1 Account No: 523 Advertising Expense Account No: 526 Credit Balance Date Depreciation Expense-Equipment Date Debit Dec 31, 20X1 Dec 31, 20X1 Debit Credit Balance Dec 31, 20X1 Dec 31, 20X1 Req 1 and 2 Req 3 Req4 Analyze Prepare a postclosing trial balance. THE BEST GROUP Postclosing Trial Balance December 31, 20X1 Account Name Debit Credit Totals Analyze: How many accounts are listed in the adjusted and postclosing trial balance section? Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Req 4 Analyze How many accounts are listed in the adjusted and postclosing trial balance section? accounts Adjusted balance Postclosing trial balance accounts