Question: please help.. and if u can show calculation so i can learn what to do that would be great!!! The unadjusted trial balance as of

 please help.. and if u can show calculation so i can

learn what to do that would be great!!! The unadjusted trial balance

as of December 31,2021 , for the Bagley Consulting Company appears below.

December 31 is the company's reporting year-end. Information necessary to prepare the

year-end adjusting entries appears below. 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 office equipment is depreciated at 10 percent

please help.. and if u can show calculation so i can learn what to do that would be great!!!

The unadjusted trial balance as of December 31,2021 , for the Bagley Consulting Company appears below. December 31 is the company's reporting year-end. Information necessary to prepare the year-end adjusting entries appears below. 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 office equipment is depreciated at 10 percent of original cost per year. c. Prepaid insurance expired during the year, $1,750. d. Accrued salaries at year-end, $1,400. e. Deferred rent revenue at year-end should be $950. Required: 1. From the trial balance and information given, prepare adjusting entries. 2. Post the beginning balances and adjusting entries into the appropriate T-accounts. 3. Prepare an adjusted trial balance. 4. Prepare closing entries. 5. Prepare a post-closing trial balance. Post the beginning balances and adjusting entries into the appropriate T-accounts. (Enter the letter of the transaction in the column next to the amount.) \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|l|}{ Rent Revenue } & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Prepare closing entries. (If no entry is required for a transaction/event, select "No journal entry requ Journal entry worksheet Close the revenue accounts using Retained Earnings. Note: Enter debits before credits

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!