The general ledger of the Karlin Company, a consulting company, at…

The general ledger of the Karlin Company, a consulting company, at January 1, 2024, contained the following account balances: Account Title Debits Credits Cash $ 30,500 Accounts receivable 15,000 Equipment 25,000 Accumulated depreciation $ 7,500 Salaries payable 8,500 Common stock 46,000 Retained earnings 8,500 Total $ 70,500 $ 70,500 The following is a summary of the transactions for the year: Provided services, $122,000, of which $36,600 was on account and the balance was received in cash. The following is a summary of the transactions for the year.

a. Provided services,$122,000, of which $36,600 was an account and the balance was received in cash.

b. Collected on accounts receivable, $25,000

c. Issued shares of common stock in exchange for $13,000 in cash

d. Paid salaries, $44,500 of which $8500 was for salaries payable at the end of the prior year

e. Paid miscellaneous expense for various items, $24,000

f. Purchased equipment for $15,500 in cash

g. Paid $2950 in cash dividends to shareholders.

additional information

h. Accrued salaries at year-end amounted to $890

i. Depreciation for the year on the equipment is $2500

Prepare general journal, Record beginning balance in the T-accounts. Post the journal entries to the T-account

prepare an unadjusted trial balance

Prepare adjusted journal entries, using the additional information provided

Using the adjusted T-account balances prepare an adjusted trial balance

Prepare an income statement for 2024

Prepare a balance sheet as of December 31,2024

Prepare closing entries, and then post to the T-accounts

Prepare a post-closing trial balance

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