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1. Prepare the closing entries for Marty Marty 's Bowling Alley. 2. Prepare apost-closing trial balance. 3. Compute the current ratio for Marty Marty 's

1.

Prepare the closing entries for Marty

Marty's Bowling Alley.

2.

Prepare apost-closing trial balance.

3.

Compute the current ratio for Marty

Marty's Bowling Alley.

Marty's Bowling Alley

Adjusted Trial Balance

December 31, 2018

Balance

Account Title

Debit

Credit

Cash

$15,500

Accounts Receivable

3,200

Office Supplies

850

Prepaid Insurance

2,900

Land

15,000

Building

150,000

Accumulated DepreciationBuilding

$5,500

Equipment

50,000

Accumulated DepreciationEquipment

18,000

Accounts Payable

3,900

Utilities Payable

500

Salaries Payable

3,500

Unearned Revenue

2,000

Bech, Capital

199,450

Bech, Withdrawals

28,000

Service Revenue

110,000

Insurance Expense

21,000

Salaries Expense

32,000

Supplies Expense

1,600

Utilities Expense

17,000

Depreciation ExpenseEquipment

5,500

Depreciation ExpenseBuilding

300

Total

$342,850

$342,850

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