Chapter 174 The adjusted trial balance for Giovanni Co. as of December 31, 2011, follows. Problem 4-4B Preparing closing entries, financial statements, and ratios Q AL P2 GIOVANNI COMPANY Adjusted Trial Balance December 31, 2011 Debit Credit Account Title No. 101 104 126 128 167 168 Cash ............. Short-term investments Supplies ...... Prepaid insurance Equipment Accumulated depreciation Equipment $ 6,400 10.200 3.600 800 18.000 $ 3,000 90,000 173 Building .... 9,000 Accumulated depreciation Building 28.500 Land ... 2,500 1,400 174 183 201 203 208 210 213 233 251 301 302 401 406 Accounts payable Interest payable Rent payable Wages payable Property taxes payable Unearned professional fees Long-term notes payable J. Giovanni, Capital ..... J. Giovanni, Withdrawals Professional fees earned 200 1.180 2,330 650 32,000 91,800 6,000 47,000 3,600 500 1.120 407 409 606 Rent earned .... Dividends earned Interest earned Depreciation expense-Building Depreciation expense Equipment Wages expense Interest expense Insurance expense 612 623 633 2.000 1,000 17,500 1,200 1.425 1.800 900 637 640 652 310 682 683 684 688 690 Rent expense Supplies expense Postage expense Property taxes expense Repairs expense Telephone expense Utilities expense Totals 3.825 579 421 1.820 $196,280 $196,280 of the J. Giovanni, Capital account was $61,800). Giovanni Company is required to make a $6,400 payment J. Giovanni invested $30,000 cash in the business during year 2011 (the December 31, 2010, credit balance on its long-term notes payable during 2012