Activity 3 c Post to the ledger T accounts have been opened using the balances from the adjusted trial balance Post the closing entries to the t accounts and calculate ending balances for each account For accounts that have a zero balance, enter the zero on the normal balance side Use the acronym for closing entries as post references and include Bal references where appropriate For the Income Summary account, calculate and enter the Balance (Bal ) before posting the entry to close out the account Date Accounts and Explanation Debit Credit Dec 31 Service Revenue 150,000 Income Summary 150,000 To close Revenue Date Accounts and Explanation Debit Credit Dec 31 Income Summary 69,000 Retained Earnings 69,000 To close Income Summary Date Accounts and Explanation Debit Credit Dec 31 Retained Earnings 15,000 Dividends 15,000 To close Dividends Date Accounts and Explanation Debit Credit Dec 31 Income Summary 81,000 Depreciation Expense Furniture 13,000 Interest Expense 18,000 Rent Expense 8,000 Salaries Expense 15,000 Supplies Expense 27,000 To close Expenses Depreciation Expense Furniture Adj Bal 13,000 correct Bal DEIRcorrect Bal DEIRcorrect correct correct Bal DEIRcorrect Rent Expense Adj Bal 8,000 correct Bal DEIRcorrect Bal DEIRcorrect correct correct Bal DEIRcorrect Dividends Adj Bal 15,000 correct Bal DEIRcorrect Bal DEIRcorrect correct correct Bal DEIRcorrect Service Revenue Bal DEIRcorrect correct 150,000 Adj Bal Bal DEIRcorrect correct correct Bal DEIRcorrect Interest Expense Adj Bal 18,000 correct Bal DEIRcorrect Bal DEIRcorrect correct correct Bal DEIRcorrect Salaries Expense Adj Bal 15,000 correct Bal DEIRcorrect Bal DEIRcorrect correct correct Bal DEIRcorrect Retained Earnings Bal DEIRcorrect correct 31,000 Adj Bal Bal DEIRcorrect correct incorrect Bal DEIRcorrect Bal DEIRcorrect correct incorrect Bal DEIRcorrect Income Summary Bal DEIRincorrect incorrect incorrect Bal DEIRincorrect Bal DEIRcorrect correct incorrect Bal DEIRincorrect Bal DEIRincorrect incorrect correct Bal DEIRcorrect Bal DEIRcorrect correct incorrect Bal DEIRincorrect Supplies Expense Adj Bal 27,000 correct Bal DEIRcorrect Bal DEIRcorrect correct correct

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Activity 3.c - Post to the ledger. T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the

Activity 3.c - Post to the ledger.

T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the t-accounts and calculate ending balances for each account. For accounts that have a zero balance, enter the zero on the normal balance side. Use the acronym for closing entries as post references and include Bal. references where appropriate. For the Income Summary account, calculate and enter the Balance (Bal.) before posting the entry to close out the account.

Date	Accounts and Explanation	Debit	Credit
Dec. 31	Service Revenue	150,000
	Income Summary		150,000
	To close Revenue

Date	Accounts and Explanation	Debit	Credit
Dec. 31	Income Summary	69,000
	Retained Earnings		69,000
	To close Income Summary

Date	Accounts and Explanation	Debit	Credit
Dec. 31	Retained Earnings	15,000
	Dividends		15,000
	To close Dividends

Date	Accounts and Explanation	Debit	Credit
Dec. 31	Income Summary	81,000
	Depreciation Expense--Furniture		13,000
	Interest Expense		18,000
	Rent Expense		8,000
	Salaries Expense		15,000
	Supplies Expense		27,000
	To close Expenses

Depreciation Expense--Furniture
Adj. Bal.	13,000	correct	Bal.DEIRcorrect
Bal.DEIRcorrect	correct	correct	Bal.DEIRcorrect

Rent Expense
Adj. Bal.	8,000	correct	Bal.DEIRcorrect
Bal.DEIRcorrect	correct	correct	Bal.DEIRcorrect

Dividends
Adj. Bal.	15,000	correct	Bal.DEIRcorrect
Bal.DEIRcorrect	correct	correct	Bal.DEIRcorrect

Service Revenue
Bal.DEIRcorrect	correct	150,000	Adj. Bal.
Bal.DEIRcorrect	correct	correct	Bal.DEIRcorrect

Interest Expense
Adj. Bal.	18,000	correct	Bal.DEIRcorrect
Bal.DEIRcorrect	correct	correct	Bal.DEIRcorrect

Salaries Expense
Adj. Bal.	15,000	correct	Bal.DEIRcorrect
Bal.DEIRcorrect	correct	correct	Bal.DEIRcorrect

Retained Earnings
Bal.DEIRcorrect	correct	31,000	Adj. Bal.
Bal.DEIRcorrect	correct	incorrect	Bal.DEIRcorrect
Bal.DEIRcorrect	correct	incorrect	Bal.DEIRcorrect

Income Summary
Bal.DEIRincorrect	incorrect	incorrect	Bal.DEIRincorrect
Bal.DEIRcorrect	correct	incorrect	Bal.DEIRincorrect
Bal.DEIRincorrect	incorrect	correct	Bal.DEIRcorrect
Bal.DEIRcorrect	correct	incorrect	Bal.DEIRincorrect