• Chapter 3 Homework Problem #4 part 1 Assignment Prepare #11 on the homework sheet for this assignment just through the adjusted trial balance
• Chapter 3 Homework Problem #4 part 2 Assignment Take your corrected trial balance and now do the closing entries and post closing trial balance

11.Below is the unadjusted trial balance for Xander Corporation as of December 31, 2018:

Xander Corporation

Unadjusted Trial balance

December 31, 2018

Debit

Credit

Cash

$        60,000

Accounts Receivable

            3,500

Prepaid Rent

            2,000

Prepaid Insurance

            1,600

Supplies

            1,050

Land

          25,000

Building

          50,000

Accumulated Depreciation-Building

$          5,000

Equipment

          15,000

Accumulated Depreciation-Equipment

            2,500

Accounts Payable

          13,000

Unearned Revenue

            1,500

Notes Payable

          20,000

Common Stock

          70,000

Retained Earnings

          25,650

Dividends

            2,500

Service Revenue

          40,000

Salaries Expense

            9,000

Rent Expense

            5,000

Utilities Expense

            3,000

Total

$     177,650

$     177,650

Data needed for adjusting entries (date for all journal entries is 12/31):

A.Salaries owed but not yet paid, $350.

B.$500 of the unearned revenue has now been earned.

C.Prepaid insurance expired, $400.

D.Interest accrued on note payable, $125.

E.Revenue earned, but unbilled, $300.

F.Supplies on hand at December 31, $600.

G.Depreciation on equipment was $2,500.

1.Prepare the adjusting journal entries for Xander Corporation.

2.Open T-accounts for all of the trial balance accounts and post the adjusting entries into the T-accounts and determine ending balances for all accounts.

HINT: Your debits & credits will each equal $180,925.

3.Prepare an adjusted trial balance. 

4.Prepare closing entries.

5.Prepare a post-closing trial balance.