Activity 4 Presented below is the adjusted trial balance of XYZ Company. XYZ Company Trial Balance December 31,2018 300,000 240,000 14,000 30,000 250,000 P. Cash Accounts Receivable Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation Office Equipment Accounts Payable Unearned Training Fees XYZ Capital XYZ Drawing Training fees Rent Expense Insurance Expense Salaries Expense Utilities Expense 30,000 90,000 110,000 446,000 100,000 421,000 80,000 15,000 50,000 18,000 Total 1,097,000 P 1,097,000 Required: 1. Prepare the closing entries for December 31, 2018. 2. Prepare the Post-Closing Trial Balance as of December 31, 2018