Required: a. Use Excel to create an unadjusted trial balance forPost Plumbing, Inc. at January 31, 2019. b. Prepare the adjustingjournal entries for the month of January. Create additionalaccounts as necessary. c. Post all adjusting journal entriesnecessary to your Excel trial balance. d. Use Excel to create theadjusted trial balance. e. Prepare an unclassified balance sheet atJanuary 31, 2019.The following account balances are provided forPost Plumbing, Inc. at January 31, 2019:
Cash $ 372,100
Accounts Receivable 359,000
Investments 30,000
Spare parts and supplies 38,000
Prepaid salaries expense 9,000
Prepaid rent 36,000
Equipment 721,850
Accounts payable 18,200
Interest payable 280
Unearned Revenue 22,000
Notes payable 35,000
Bank loan 426,000
Common Stock 625,000
Retained Earnings 99,150
Service Revenue 413,000
Interest Revenue 300
Parts and supplies expense 16,000
Loss on sale of investments 2,980
Salaries expense 50,000
Utilities expense 1,200
Advertising expense 2,800
The following additional information is provided for the monthending January 31, 2019:
1. Rent is paid through March 31, 2019.
2. Depreciation expense for the month was $9,950.
3. $3,800 of services paid for in December were rendered duringJanuary.
4. A physical count showed $29,000 of supplies on hand onJanuary 31, 2019.
5. $3,500 of wages earned from January 27-31 will be paid inFebruary.
6. The interest rate on the $35,000 note payable is 5%.
7. Received a January phone bill for $480 on February 4.
8. The investment balance includes an $18,000 note receivablewith an interest rate of 2%.
9. Company purchases long-term disability insurance for itsemployees. The monthly premium is .25% of salaries expense and ispayable quarterly.
10. The income tax rate is 21%
