The June 30, 2010, adjusted trial balance of Energized Espresso, Inc., is shown next.

Requirements 1. Prepare the June closing entries for Energized Espresso, Inc.
2. Calculate the ending balance in Retained Earnings.
3. Prepare a post-closing trial balance.

Transcribed Image Text:

Energized Espresso, Inc. Adjusted Trial Balance June 30, 2010 ACCOUNT Cash DEBIT $ 4,900 CREDIT Accounts Receivable Prepaid Rent 9,600 1,800 Supplies 600 Equipment Accumulated Depreciation, Equipment Accounts Payable Unearned Service Revenue 26,000 $ 4,200 2,400 1,100 Salary Payable Notes Payable 1,800 3,000 Common Stock Retained Earnings Dividends Service Revenue 10,000 11,950 2,000 43,000 Interest Revenue 400 Salary Expense 24,500 Rent Expense 6,000 Depreciation Expense, Equipment 1,200 Utilities Expense 700 Supplies Expense 550 Total $77,850 $77,850