with work please

FASTFORWARD Closing Trial Balance December 31, 2015 Cosing Trial Balance \begin{tabular}{|l|l|l|} \hline Accounts & Debit & Credit \\ \hline Cash & & \\ \hline Accounts Receivable & & \\ \hline Supplies & & \\ \hline Prepaid Insurance & & \\ \hline Equipment & & \\ \hline Accumulated Depreciation-Equip. & & \\ \hline Accounts Payable & & \\ \hline Salaries Payable & & \\ \hline Unearned Consulting Revenue & & \\ \hline Common Stock & & \\ \hline Retained Earnings & & \\ \hline Totals & & \\ \hline \end{tabular} 1. Start with the file you submitted for Project 3 and make corrections (as needed). 2. Complete the Closing Journal Entries 3. Complete the Closing Trial Balance 4. Use links and formulas whenever possible Closing Process Steps: 1. Close Credit Balances in Revenue Accounts to Income Summary 2. Close Debit Balances in Expense Accounts to Income Summary 3. Close Income Summary to Retained Earnings 4. Close Dividends Account to Retained Earnings Information for End-of-Month Adjusting Journal Entries \begin{tabular}{|c|l|} \hline A & Record 1 month of expired insurance (Paid $2,400 for 2 years of coverage). \\ \hline B & Record supplies used ($8,670 of supplies remain at month's end). \\ \hline C & Record 1 month of equipment depreciation (Cost =$26,000; Life =5 Years; Salvage Value =$8,00 \\ \hline D & Record $250 of earned consulting revenue that was received in advance. \\ \hline E & Record $210 of Accrued Salary. \\ \hline F & Record $1,800 of Accrued Consulting Revenue. \end{tabular}