Closing Entries and Post Closing Trial Balance

Date Particulars Debit Credit Fees Earned Miscellaneous Expense -Debit Credit balance Salaries Expense Supplies Expense Utilities Expense Insurance Expense lo to all the expenses Total Rent Expense Income Summary J. Turner, Drawings J. Turner, Capital drawings beginning capital income ending capital Management Consultant Services Work Sheet For the year ended December 31, 20- ACC. TRIAL BALANCE ADJUSTMENTS INCOME STATEMENT BALANCE SHEET ACCOUNT TITLE NO DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT 1 Cash 100 18 00 0 00 18 0 0 0 00 2 Accounts Receivable 102 1900 0 00 19 0 0 0 00 Supplies 131 1 45 0 00 5000 1 4 00 00 4 Prepaid Insurance 132 60 00 6 0 00 0 00 5 Prepaid Rent 133 170 0 00 1 700 00 0 00 6 Equipment 141 12 00 0 00 12 0 0 0 00 7 Accumulated Depreciation-Equipment 142 4 160 00 16 000 4320 00 7 8 Accounts Payable 200 1000 00 10 00 00 8 Bank Loan 221 3000 00 3000 00 9 10 J. Turner, Capital 300 29 60 0 00 29 6 0 0 00 10 11 J. Turner, Drawings 301 18 0 0 0 00 18 0 0 0 00 11 12 Fees Earned 400 154 0 0 0 00 154 0 0 0 00 12 13 Salaries Expense 500 95 8 8 0 00 95 8 8 0 00 13 14 Utilities Expense 501 3 30 0 00 3 30 0 00 14 15 Miscellaneous Expense 502 70 0 00 70 0 00 15 16 Supplies Expense 503 5 50 00 50 00% 60 0 00 16 17 Insurance Expense 504 6 6 0 00 6 000 7 20 00 17 18 7 0 0 00 170 0 00 20 4 0 0 00 18 18 Rent Expense 505 506 1 7 6 0 00 160 00 1920 00 19 19 Depreciation Expense Equipment 191 7 6 0 00 191 7 6 0 00 197000 1 9 7 0 00 123 52 0 00 154 0 0 0 00 68 4 0 0 00 37 9 2 0 00 20 20 21 30 4 8 0 00 30 4 8 0 00 21 154 0 0 0 00 154 0 0 0 00 68 40 0 00 68 40 0 00 22 22 23 24 25 26 27