Can anyone prepare a Post-Closing Trial Balnace?
Ruiz Consulting Ltuusheet For the Month Ended November 30, 20XX Sum Onanusted Trial Balance Balance Adjusted Trial Balance Income Adjustments Debit Statement Sheet Account Name Debit Credit Credit Debit Credit Debit Credit Debit Credit Cash A/R Prepaid Insurance Supplies Computer Accumulated Depreciation A/P Offeh) s 9300 Offebl 4200 Offiehi 9300 960 1600 liooco 088 lcooo 280 900 #D50 /200 C) 250 $ 250 1200 800 1200 Unearned Revenue d)9200 20000 Ruiz, Capital Ruiz, Withdrawals Consulting Revenue Wages, Exp. Utiltity Exp. Telephone Exp. Docoo 200co 1400 (400 (0800 d 200 liooo 1200 le)360 1560 1560 loo LOo Notes Payable 6500 O097 la)80 80 Insurance Exp. 80 Supplies Exp. Depreciation Exp. Wages Payable Toto l Net Income lb 6o0 C) 260 250 250 e) 360 360 350 39500 # 395CO 490 L90 $4OLLO$3290 #I0o0| $36820 $291 L0 Totel 1O00 Oo0 36820 f#36820 Net Income #((000-#3290 The Accounting Cycle: Nov. 1: Luis Ruiz invests $20,000 to start his own consulting agency. Nov. 1: Purchased a one-year fire insurance policy, $960. Nov. 5: Acquired a computer for $10.000, paving $3.500 down with balance due in 60 days Nov. 6: Purchased office supplies on account from Taylor Supply, $1,500. Nov.9: Paid Taylor Supply $400 on account. Nov. 10: Billed Barkley Insurance for consulting services performed, $6,000. Nov. 12: Collected $1,500 from Barkley Insurance. Nov. 12: Hired secretary to be paid $600 per week. Nov. 15: Collected $1,000 from Bryant Realty for consulting services to be performed. Nov. 26: Paid the secretary two weeks' wages, $1,200. Nov. 29: Received and paid the November utility bill, $700. Nov. 30: Received (but did not pay) the November telephone bill, $100. Nov. 30: Performed consulting services for Bing Enterprises, $4,800, to be collected in December. Nov. 30: Ruiz withdrew $1,400 from the business for personal living expenses. Required: Journalize and post the November transactions for Ruiz Consulting. an unadusted 2. PrepareTrial Balance as of November 30. urnalize 3. Prepere and post adjusting entries for the month ended November 30. 1. 39600 a. Expired insurance, $80 (iSo-90o Goo) . Supplies on hand at November 30, $900 c. Monthly depreciation of computer, $250 d. 20% of advance fee from Bryant Brokerage was earned by November 30 e. Accrued 3 days wages, $360 loo 4. Prepare an Adjusted Trial Balance. 5. Prepare the following Financial Statements a. Income Statement for the month ended November 30. b. Statement of Owner's Equity for the month ended November 30 c. Balance Sheet as of November 30. classified 1 2 6. Prepare and post the closing entries. Joumalize esteAbuf2 . Prepare a post-clos ing trarl balance