The trial balance of Large Company, Inc. at the end of its annual accounting period is as follows:  

Additional information:
1. Expired insurance, $600.
2. Unused supplies, per inventory, $800.
3. Estimated depreciation, $1,000.
4. Earned but unpaid salaries, $700.  
Required
1. Prepare adjusting entries.
2. Prepare closing entries.
3. Prepare a post-closing trial balance.  
Please complete this section in Excel or Word and submit it to this Drop Box no later than Saturday at midnight. Any late papers are subject to points off. You will lose as much as a letter grade a day for being late. Also note that you are NOT being asked for a worksheet. You are to write out the journal entries in proper format and then write a post closing trial balance in proper format, NOT ON A WORKSHEET. You may use a worksheet to help you get the correct figures but the worksheet WILL NOT BEGRADED.

Transcribed Image Text:

LARGE COMPANY·INC Trial Balance December 31,2007 DEBIT $4,000 1,600 2,100 20,000 CREDIT Cash Prepaid Insurance Supplies Equipment Accumulated Depreciation, Equip C. Large, Capital C. Large, Withdrawals Revenue Salaies Expense Rent Expense Totals $2,000 19,000 2,000 33,000 18,300 6.000 S54,000 S54,000