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Assuming the following Adjusted Trial Balance, create the Post-Closing Trial Balance that would result, after all closing journal entries were made and posted: Adjusted Trial
Assuming the following Adjusted Trial Balance, create the Post-Closing Trial Balance that would result, after all closing journal entries were made and posted:
| Adjusted Trial Balance | ||
| Debit | Credit | |
| Cash | 22,900 | |
| Prepaid Insurance | 4,000 | |
| Notes Payable | 40,000 | |
| Common Stock | 25,000 | |
| Retained Earnings | 48,350 | |
| Dividends | 22,000 | |
| Sales Revenue | 150,000 | |
| Automobile Expense | 26,500 | |
| Insurance Expense | 20,000 | |
| Salaries Expense | 122,500 | |
| Supplies Expense | 1,450 | |
| Total | $263,350 | $263,350 |
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