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/CMCPortal/s X Question 5 - Unit 2 - Chapter 2 H x + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fpost.blackboard.com%252Fwebap Chapter 2 Homework Assignment Saved OI The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balan Account Title Debits Credits Cash 33, 200 Accounts receivable 10, 500 Equipment 16, 000 Accumulated depreciation 4, 800 Salaries payable 6, 250 eBook Common stock 41, 500 Retained earnings 7, 150 Print Total 59, 700 59 , 700 The following is a summary of the transactions for the year: a. Service revenue, $104,000, of which $31,200 was on account and the balance was received in cash. . Collected on accounts receivable, $22,300. c. Issued shares of common stock in exchange for $8,000 in cash. d. Paid salaries, $37,750 (of which $6,250 was for salaries payable at the end of the prior year). e. Paid miscellaneous expense for various items, $20,400. f. Purchased equipment for $10,500 in cash. g. Paid $2,475 in cash dividends to shareholders. 1. Accrued salaries at year-end amounted to $755. 2. Depreciation for the year on the equipment is $1,600. Required: 2., 5, & 8. Prepare the summary, adjusting and closing entries for each of the transactions listed. 3. Post the transactions, adjusting and closing entries into the appropriate t-accounts. 4. Prepare an unadjusted trial balance. 6. Prepare an adjusted trial balance. 7-a. Prepare an income statement for 2021. 7-b. Prepare a balance sheet as of December 31, 2021 a Dranare a noet alncing trial halance Mc