(Solved): Prepare a post-closing trial balance. The unadjusted trial balance as of December 31, 2024, for th ...

Prepare a post-closing trial balance. The unadjusted trial balance as of December 31, 2024, for the Bags Consulting Company appears below. December 31 company's reporting year-end. 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 deprec method. b. The office equipment is depreciated at 10 percent of original cost per year. C Prepaid insurance expired during the year, \( \$ 1,000 \) d. Accrued salaries at year-end, \( \$ 1,500 \). e Rent to customers who paid in advance has been provided for \( \$ 6,300 \). Required: 1. From the trial balance and information given, prepare adjusting entries, 2. Post the beginning balances and adjusting entries into the approprate T-accounts 3. Prepare an adjusted trial balance. 4. Prepare closing entries, 5. Prepare a post-closing trial balance: