Adjusted Trail Balance
December 31,2024
Account			Debit	Credit
Cash			$73,600
Legal Fees Expense			$1,600
Prepaid Insurance			$750
Equipments			$46,000
Supplies (race and office)			$5,400
Advertising Expense			$1,100
Salaries expense			$6,000
dividends			$6,000
Prepaid Rent			$2,000
miscellaneous Expense			$1,200
Depreciation Expense			$11,000
Insurance Expense			$750
Rent Expense			$1,000
Office Supplies			$600
Race Supplies			$2,500
Interest Expense			$875
Income Tax Expense			$16,000
Common Stock				$24,000
Note Payable				$35,000
Service Revenue				$73,400
Deferred Revenue				$8,500
Account Payable				$4,500
Interest Payable				$875
Accumlated Depreciation				$11,000
Supplies Expense				$3,100
Income Tax Payable				$16,000
Total			$176,375	$176,375

Balance Sheet
Decemver 31, 2024
Assets	Liabilities
Current Assets					Current liabilities
Cash			$73,600		Account Payable		$4,500
Prepaid Rent			2,000		Interest Payable		$875
Office Supplies			600		Income Tax Payable		5800
Race Supplies			2,500			Total Current Liabilities	$11,175
Prepaid Insurance			750		Long term- Liabilities
	Total current assets	79,450		Note Payable			$35,000
						Total Liabilities	$46,175
Long-term Assets				Stockholder's Equity
Equipment		46,000		Common Stock		24,000
Accumulated Depreciation		11,000		Retained Earnings		24,775
		57,000			Total stockholder's Equtiy	48,775
					Total liabilities and
Total Assets		125,450			Stockholder's Equity	$94,950

Post-Close Trail Balance
December 31, 2024
Account			Debit	Credit
Cash				$73,600
Prepaid Insurance				750
Equipment				46,000
Supplies(office and race)				$5,400
Office Supplies				$600
Race Supplies				$2,500
Prepaid Rent				2,000
Common Stock					$24,000
Note Payable					35,000
Account Payable					$4,500
Income Tax Payable					$16,000
Deferred Revenue					$8,500
accumulated Depreciation					$11,000
Retained Earnings					24,775
	Total			$130,850	$123,775

1. the adjusted trial balance is okay, but the balance sheet and the post-closing trial balance are not okay, please take a look and fix the problem.