Main task

Powerjob Inc. provides employment consulting services. The company adjusts its accounts monthly but performs closing entries annually on December $31.$ The firm$$s unadjusted trial balance dated December $31,2022$ is shown below.

Other data:

$1.$ Accrued but unrecorded and uncollected consulting fee earned at December $31$ totals: $$22500.$

$2.$ The company determined that $$15000$ of previously unearned consulting fees had been earned at December $31.$

$3.$ Office supplies on hand at December $31$ total $$310$

$4.$ The company purchased all of its equipment when it first began business. At that time, the estimated useful

life of the equipment was six years.

$5.$ The company prepaid its nine$-$month rent agreement on June $1,2022.$

$6.$ The company prepaid its six$-$month insurance policy on December $1,2022$

$7.$ Accrued but unpaid salaries total $$11500$ at December $31,2022.$

$8.$ On September $1,2022,$ the company borrowed $$60000$ by signing an eight$-$month, $4$ percent note payable. The entire amount, plus interest, is due March $31,2023.$

PowerJob Inc. UNADJUSTED TRIAL BALANCE

DECEMBER $31,2022$

Account Debit

Credit

Cash

Accounts receivable

Office supplies

Prepaid rent

Unexpired insurance

Office equipment

Accumulated depreciation : office equipment

Accounts payable

Notes payable $($due $3/1/12)$ Interest payable

Income taxes payable Dividends payable Unearned consulting fees Capital stock

Retained earnings Dividends

Consulting fees earned Rent expense

Insurance expense

Office supplies expense

Depreciation expense : office equipment

$$276500$

$$90000$

$$800$

$$3600$

$$1500$

$$72000$

$$24000$

$$3000$

$$14700$

$$2200$

$$4500$

$$4000$

$$60000$

$$600$

$$9000$

$$3000$

$$22000$

$$200000$

$$40000$

$$500000$

$$11000$

Salaries expense Utilities expense Interest expense Income taxes expense

$$330000$

$$4800$

$$3000$

$$45000$

Totals $$862600$

$$862600$

Instructions:

a$.$ Prepare the necessary adjusting journal entries on December $31,2022.$ Also prepare an adjusted trial

balance dated December $31,202231,2022$