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Question: please help you solve step by step silver line company...

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Please help you solve step by step Silver Line company adjusts its accounts monthly, performs closing entries annually. The firms unadjusted trial balance as of December 31. 2011 is on the worksheed enclosed. a) Accrued but unrecorded and uncollected consulting services revenue toals 1.500 USD at December 31.,2011 b) The company detemined that 2.500 USD ofpreviously unemed consulting services revenue had been eamed at December 31.2011 c) Office supplies on hand at December 31 total 110 USD d) The company purchased all of its equipment when it first began business. At that time, the estimated useful life of the equipment was five years. (60 months) e) The company prepaid its 6 month rent agreement on October 1, 2011 f) The company prepaid its 12 month insurance policy on May 1,2011 g) Accrued but unpaid salaries total 2 000 USD at December 31. 2011 h) On June 1, 2011 the company borrowed 10 000 USD buy signing a nine-month, 8 percent note payable. The entire amount , plus interest, is due on March 1, 2011 The company tax auditor estimated income tax expense for the entire year as 7 000 USD. The unpaid portion is due in 2012.

1. 2. 3. Prepare the necessary adjusting journal entries on December 31,2011 on the next page. Prepare an adjusted trial balance sheet dated December 31.,2011 on the worksheet Make the necessary year end closing entries ; and show the companys balance sheet as of December,31,2011 on the worksheet.SILVER LINING, INC General Journal December 31, 2011 1rial balance Entries Credt Balance Sheet Debit Credt Assets Liablities and depreciaion: office taxes payable consulting services revenue stock 30,000 services revenue $5,000 supplies expense expense: office equipment expense Salaries expense Interest expense taxes expense

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