complete post closing trial balance

Crane Company Worksheet For the Year Ended December 31, 2022 Income Statement Balance Sheet Account No. Account Titles Dr. Cr. Dr. Cr. 101 8,700 112 130 10,900 2,900 23,000 157 158 4400 201 9.100 212 2,600 301 Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation-Equip. Accounts Payable Salaries and Wages Payable Owner's Capital Owner's Drawings Service Revenue Maintenance and Repairs Expense Depreciation Expense Insurance Expense Salaries and Wages Expense Utilities Expense 19.500 306 10,700 400 59,700 622 711 1.800 3,000 1,900 722 726 30,400 732 1,200 Totals 38,300 59,700 57,000 35,600 Net Income 21,400 21.400 59,700 59,700 57,000 57.000 (b) Your answer is correct. Prepare the closing entries. L. Crane did not make any additional investments during the year. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Debit Credit Date Account Titles and Explanation Dec. 31 Service Revenue 59700 Income Summary 59700 (To close revenue account) Dec. Income Summary 31 38300 Maintenance and Repairs Expense 1900 Depreciation Expense 3000 Insurance Expense 1900 Salaries and Wages Expense 30400 Utilities Expense 1200 (To close expense accounts) Dec. 31 Income Summary 21400 Owner's Capital 21400 100 (To close net Income / (loss)) Dec. 31 Owner's Capital 10700 Owner's Drawings 10700 (To close drawings) Owner's Capital No. 301 12/31 10700 1/1 Bal 19500 12/31 21400 12/31 Bal. 30200 Owner's Drawings No. 306 12/31 10700 12/31 10700 Income Summary No. 350 12/31 38300 12/31 59700 12/31 21400 59700 59700 Service Revenue No. 400 12/31 59700 12/31 Bal 59700 Maintenance and Repairs Expense No. 622 12/31 BA 1800 12/31 1800 Depreciation Expense No. 711 12/31 Bal. 3000 12/31 3000 Insurance Expense No. 722 12/31 33 1900 12/31 1900 Salaries and Wages Expense No. 726 12/31 Bal. 30400 12/31 30400 Utilities Expense No. 732 12/31 1200 12/31 1200 (d) Prepare a post-closing trial balance. CRANE COMPANY Post-Closing Trial Balance Debit Credit Totals e Textbook and Media