adjusted trial balance as of December 31, 2016, is presented below: 8 MATTHEW'S BOWLING ALLEY Adjusted Trial Balance December 31, 2016 Accumulated Depcion-dry 116,500 31.300 2800 41,000 $22,000 135.000 5500 3600 675 3500 1,700 Matt Capital 211325 30,000 100.000 28.000 Exp 30.000 Spe 1,000 25,000 2.500 450 Requirements 1. Prepare the closing entries for Matthew's Bowling Alley. 2. Prepare a post-closing trial balance. 3. Compute the current ratio for Matthew's Bowling Alley. SOLUTION Requirement 1 Date Accounts and Explanation Debit Credit Dec. 31 31 31 31 SOLUTION Requirement 1 Date Accounts and Explanation Debit Credit Dec. 31 31 31 31 4. cont. Requirement 2 MATTHEW'S BOWLING ALLEY Post-Closing Trial Balance December 31, 2016 Account Title Balance Debit Credit Requirement 3 Current Ratio