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Problem 2-9 (Algo) Accounting cycle; unadjusted trial balance through closing [LO 2-4, 2-6, 2-8] 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. Account Title Debits Credits Cash 7,650 Accounts receivable 7.750 Prepaid insurance 3,200 Land 215, eee Buildings 60, cee Accumulated depreciation-buildings 24,800 Office equipment 93,000 Accumulated depreciation-office equipment 37,200 Accounts payable 28,850 Salaries payable Deferred rent revenue Common stock 230,00 Retained earnings 46,950 Service revenue 82,690 Interest revenue 4,200 Rent revenue 5, 10e Salaries expense 32,800 Depreciation expense Insurance expense Utilities expense 21,200 Maintenance expense 18,500 Totals 458,300 458,300 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. $1,600. d. Accrued salaries at year-end. $1.250. e. Deferred rent revenue at year-end should be $800. 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 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.) Cash Accounts Receivable Beg, ball Beg. bal. End. bal. Beg bal Prepaid Insurance Land Beg. bal. Beg. bal. End. bal. End. bal. Buildings Office Equipment Beg. bal Beg. bal. End. bal. End. bal. Accumulated Depreciation-Building Accumulated Depreciation Office Equipment Beg bal. Beg bal End, bal. End. bal. Accounts Payable Salaries Payable Beg. bal. Beg. bal. End. bal. End. bal. Deferred Rent Revenue Common Stock Beg bal Beg. bal. End. bal. End. bal. Retained Earnings Service Revenue Beg bal Beg bal End. bal. End. bal Interest Revenue Rent Revenue Beg bal Beg bal End, bal End. bal Salaries Expense Depreciation Expense Beg bal Beg bal. End. bal. End. bal Insurance Expense Utilities Expense Beg bal. Beg bal End. bal. End. bal. Maintenance Expense Beg bal. End. bal. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare an adjusted trial balance. Credits BAGLEY CONSULTING COMPANY Adjusted Trial Balance Account Title Debits Cash Accounts receivable Prepaid insurance Land Buildings Accumulated depreciation-buildings Office equipment Accumulated depreciation-office equipment Accounts payable Salaries payable Deferred rent revenue Common stock Retained earnings Service revenue Interest revenue Rent revenue Salaries expense Depreciation expense Insurance expense Utilities expense Maintenance expense Totals $ 0 $ 0 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare closing entries. (If no entry is required for a transaction/event, select "No joumal entry required View transaction Mat Journal entry worksheet > Close the revenue accounts using Retained Earnings. Note: Enter debits before credits. General Journal Debit Credit Date December 31 2021 Record entry Clear entry View general Journal Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare closing entries. (If no entry is required for a transaction/event, select "No joumal entry required View transaction Met Journal entry worksheet

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