Bill's Roofing Services showed the following post-closing trial balance after the posting of the closing entries on June 30, 2014:

Required
1. Identify the error(s) in the post-closing trial balance.
2. What entry is required to correct the error?
3. Calculate the correct balance at June 30, 2014, for Bill Duggan, Capital. CHECK

Transcribed Image Text:

Debit Credit 21,000 36,000 59,500 Cash Accounts receivable Equipmemt Accumulated depreciation, equipment Trucks Accumulated depreciation, trucks Accounts payable Bill Duggan, capta Bill Duggan, withdrawals Interest revenue Other expenses Totals S 12,000 138,000 66,000 19,200 216,200 59,900 1,150 150 5314,550 $314,550