1.prepare closing entries

2.post to retained earnings and income summar accounts

3.prepare a post closing trail balance at july 31

Exercise 4-8 plevin Company ended its fiscal year on July 31, 2017. The company's adjusted trial balance as of the end of its fiscal year is shown below. PLEVIN COMPANY Adjusted Trial Balance July 31, 2017 No Account Titles Debit Credit 101 Cash $10,150 112 Accounts Receivable 8.500 157 Equipment 16,200 156 Accumulated Depreciation Equip, $7,500 201 Accounts Payable 4,950 200 Untamed Rant Revenue 2,200 311 Common Stod 20,100 320 Retained Earnings 25,500 332 Dividends 14.000 400 Service Revenue 64.500 420 Rent Revenue 6,000 711 Depreciation Expense 9.500 726 Salaries and Wages Expense 56,600 732 Expense 15,000 51.30.750 $130.250