The completed financial statement columns of the worksheet for Hubbs Company Prepare financial statements, are shown below and on the next page. closing entries, and postclosing trial balance.

Hubbs Company LO 1, 2, 3,6 Worksheet ( )

For the Year Ended December 31, 2014 Income Statement Balance Sheet Account No. Account Titles Dr. Cr. Dr. Cr.

101 Cash 6,200 112 Accounts Receivable 7,500 130 Prepaid Insurance 1,800 Sy Equipment 33,000 167 Accumulated Depreciation—Equip. 9,900 201 Accounts Payable 11,700 Dis. Salaries and Wages Payable 3,000 Sui Common Stock 20,000 320 Retained Earnings 9,700 332 Dividends 4,000 400 Service Revenue 47,000 622 Maintenance and Repairs Expense 4,100 Wut Depreciation Expense 3,300 Income Statement Balance Sheet Account == ae es No. Account Titles Dr. Cr. Dr. Cr.
W22. Insurance Expense 2,200 726 Salaries and Wages Expense 35,200 732 Utilities Expense 4,000 Totals 48,800 47,000 52,500 54,300 Net Loss 1,800 1,800 48,800 48,800 54,300 54,300 Instructions :

(a) Prepare an income statement, a retained earnings statement, and a classified balance sheet.

(b) Prepare the closing entries.

(c) Post the closing entries, and underline and balance the accounts. (Use T-accounts.)
Income Summary is account No. 350.

(d) Prepare a post-closing trial balance.