*Only Problems C,D & E are Required*

SELF-STUDY REVIEW PROBLEM A step-by-step audio-narrated series of slides is available in the Connect library. The following events apply to the first year of operations for Mestro Financial Services Company: 1. Acquired $28,000 cash by issuing common stock on January 1, 2016. 2. Purchased $1,100 of supplies on account. 3. Paid $12,000 cash in advance for a one-year lease on office space. 4. Earned $23,000 of consulting revenue on account. 5. Incurred $16,000 of general operating expenses on account. 6. Collected $20,000 cash from receivables. 7. Paid $13,000 cash on accounts payable. 8. Paid a $1,000 cash dividend to stockholders. Information for Adjusting Entries 9. There was $200 of supplies on hand at the end of the accounting period. 10. The one-year lease on the office space was effective beginning on October 1, 2016. 11. There was $1,200 of accrued salaries at the end of 2016. Required a. Record the preceding events in general journal format. b. Post the transaction data from the general journal into general ledger T-accounts. C. Prepare an adjusted trial balance. d. Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows. e. Prepare the appropriate closing entries in general journal format