Boy Scouts Milk MISSIUM Togetherness Leo Burnett Ads of the World... CULLUMBER COMPANY Adjusted Trial Balance December 31, 2021 Account No. 101 112 126 Adjusted Trial Balance Dr. Cr. $4,100 9,900 1,100 2,700 26,600 $5,400 14,300 5,600 1,200 130 157 158 200 201 212 230 Account Titles Cash Accounts receivable Supplies Prepaid insurance Equipment Accumulated depreciation-equipment Notes payable Accounts payable Salaries payable Interest payable D. Cullumber, capital D. Cullumber, drawings Service revenue Advertising expense Supplies expense Depreciation expense Insurance expense Salaries expense Interest expense Totals 520 13,300 301 6,200 306 60,500 400 610 8,800 631 711 2,700 5,400 4,300 28,500 722 726 905 520 $100,820 $100,820 Debit Credit Date Account Titles and Explanation Dec. 31 (To close revenue accounts) Dec. 31 (To close expense accounts) Dec. 31 (To close income summary account) Dec. 31 Use T accounts to post the closing entries and calculate the balance in each account. Income Summary is account No. 350. (Ignore the accounts not affected by the closing entries.) (Post entries in the order of journal entries presented in the previous part. For balances ending in 0 select bal for the date and 0 for the amount for the normal balance of the account.) Income Summary No. 350 D. Cullumber, Capital No. 301 D. Cullumber, Drawings No. 306 Service Revenue No. 400 Advertising Expense No. 610 Supplies Expense No. 631 Depreciation Expense CULLUMBER COMPANY Post-Closing Trial Balance Debit Credit Totals