Adjusted Trial Balance

December 31, 2016

	Debit	Credit
Cash	$1,180
Accounts Receivable	875
Supplies	350
Prepaid Insurance	1,210
Equipment	1,200
Accumulated DepreciationEquipment		$ 40
Accounts Payable		75
Salaries and Wages Payable		56
Interest Payable		15
Unearned Service Revenue		300
Notes Payable		2,000
Owners Capital		800
Owners Drawings	500
Service Revenue		4,515
Salaries and Wages Expense	1,006
Utilities Expense	125
Advertising Expense	165
Supplies Expense	1,025
Depreciation Expense	40
Insurance Expense	110
Interest Expense	15
	$7,801	$7,801

Instructions

Using the information in the adjusted trial balance, do the following.

(a) Prepare an income statement and an owners equity statement for the 2 months ended December 31, 2016, and a classified balance sheet as at December 31, 2016.

(b) Natalie has decided that her year-end will be December 31, 2016. Prepare and post closing entries as of December 31, 2016.

(c) Prepare a post-closing trial balance.