The trial balance for Darby Kite Store as of December 31, 20-1, is shown on page 608. At the end of the year, the following adjustments need to be made:

(a and b) Merchandise inventory as of December 31, $23,600.

(c) Unused supplies on hand, $1,050.

(d) Insurance expired, $250.

(e) Depreciation expense for the year, $400.

(f) Wages earned but not paid (Wages Payable), $360.

(g) Unearned revenue on December 31, 20-1, $500.

REQUIRED

1. Prepare a work sheet.

2. Prepare adjusting entries.

3. Prepare closing entries.
4. Prepare a post-closing trialbalance.

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Darby Kite Store Trial Balance For Year Ended December 31, 20-1 ACCOUNT TITLE CREDIT BALANCE DEBIT BALANCE 1117 00 00 11 20000 25 00000 1200 00 800 00 5400 00 Cash Accounts Receivable Merchandise Inventory Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Wages Payable Sales Tax Payable 80 0 00 7100 00 250 00 3000 00 50 000 00 Unearned Revenue M. D. Akins, Capital M. D. Akins, Drawing Income Summary Sales Sales Returns and Allowances Purchases Purchases Returms and Allowances 10 5 0 0 00 55 4 9 0 00 1450 00 34 5 0 0 00 1100 00 630 00 Purchases Discounts Freight-In Wages Expense Advertising Expense Supplies Expense Telephone Expense Utililtes Expense Insurance Expense Depreciation Expense-Equipment Miscellaneous Expense Interest Expense 360 00 10 8 80 00 7 40 00 1100 00 2300 00 3 20 00 920 00 118 3 70 00 118 3 70 00