Preparing a post-closing trial balance (Learning Objective 4) 5–10 min.

After closing its accounts at July 31, 2014, Anderson Realty, Inc., had the following account balances:AppendixLO1

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Notes Payable. $ 5,000 Cash.............. $ 3,800 Prepaid Rent.. 1,600 Service Revenue 0 Accounts Receivable 2,300 Retained Earnings. 10,700 Prepaid Insurance 4,200 Common Stock.......... 35,000 Accounts Payable. 2,100 Salaries Expense. 0 Equipment........... 45,500 Accumulated Depreciation, Equipment....... 4,600