19. (Chapter 4)

At March 31, 2014, account balances after adjustments for Maddux Cinema are as follows:

Account Balances

Accounts (After Adjustment)

Cash............................................................................................................ $ 6,000

Concession supplies.......................................................................................... 4,000

Theatre equipment.......................................................................................... 50,000

Accumulated depreciationtheatre equipment............................................. 12,000

Accounts payable.............................................................................................. 5,000

N. Maddux, capital......................................................................................... 20,000

N. Maddux, drawings..................................................................................... 12,000

Admission ticket revenues.............................................................................. 60,000

Popcorn revenues............................................................................................ 37,000

Candy revenues............................................................................................... 19,000

Advertising expense........................................................................................ 12,000

Concession supplies expense.......................................................................... 19,000

Depreciation expense........................................................................................ 4,000

Film rental expense......................................................................................... 16,000

Rent expense................................................................................................... 12,000

Salaries expense...................................................................................... ....... 13,000

Utilities expense................................................................................................ 5,000

Instructions

a. Prepare the closing journal entries for Maddux Cinema.

b. Prepare a post-closing trial balance.