The general ledger of the Karlin Company a consulting company, at January 1,2021,contained

The general ledger of the Karlin Company a consulting company, at January 1,2021,contained  the following account balances: Account Title     Cash  $             28,700.00   Accounts Receivable  $             18,000.00   Equipment  $             31,000.00   Accumulated Depreciation    $           9,300.00 Salaries Payable    $         10,000.00 Common Stock    $         49,000.00 Retained Earnings    $           9,400.00 Total  $             77,700.00  $         77,700.00 The following is a summary of the transactions for the year: a) Service revenue,$134000,of which $40200 was on account and the balance was  received in cash. b) Collected on accounts receivable,$26800. c ) Issues shares of common stock in exchange for $16000 in cash. d) Paid salaries $49,000(of which$10,000 was for salaries payable at the end of the prior year). e) Paid miscellaneous expense for various items ,$26400. e ) Purchased equipment for $18,500in cash. f) Paid $3250 in cash dividends to shareholders. 1) Accrued salaries at year-end amounted to $980. 2) Depreciation for the year on the equipment is $3,100. Required: 1) Prepare Journal Entries. 2) Prepare Adjusting Journal Entries 3) Prepare T-Accounts 4) Prepare Adjusting Trial Balance 5) Prepare Income Statement 6) Prepare Statement of Owner's Equity 7) Prepare Balance Sheet 8) Prepare Post closing Entries 9) Prepare Post closing Trial Balance

 Ans)   Unadjusted  Trial balance total   $          2,14,450.00  Adjusted Trial balance total   $          2,18,530.00  Net Income   $             64,520.00  Post closing trial balance total   $          1,49,050.00