Presented below is an adjusted trial balance for Shawn Company, at December 31, 2014.

Instructions:
(a) Prepare closing entries for December 31, 2014.
(b) Prepare a post-closing trial balance.

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$ 7,700 Cash Accounts payable Accounts receivable payable Prepaid insurance depreciation- Equipment $10,000 Notes 20,000 9,000 15,000 Accumulated 35,000 Equipment Depreciation expense 14,000 Service 7,000 29,000 revenue Owner's Drawings capital Advertising expense 1,500 24,000 1,400 Owner's Unearned service 16,000 revenue 800 Rent expense Salaries and wages exp.12,000 Insurance expense 1.600 $102,000 $102,000