Complete the post-closing trial balance Links to an external site:

Trial Balance should have an end total of $84,175.

Page 28

Date

Description

PR

DR

CR

Trial Balance

Post-Closing Trial Balance

Closing Entries

Dec. 31st

Dec. 31st

31-Dec

Service Revenue

68325

Accounts

DR

CR

Accounts

DR

CR

Income Summary

68325

Cash

21825

Cash

Supplies

1550

Supplies

31-Dec

Income Summary

33550

Accounts Receivable

13000

Accounts Receivable

Advertising Expense

1850

Prepaid Insurance

4800

Prepaid Insurance

Interest Expense

300

Equipment

43000

Equipment

Salaries Expense

28000

Accumulated Depreciation- Equipment

1600

Accumulated Depreciation- Equipment

Utilities Expense

1200

Accounts Payable

15000

Accounts Payable

Insurance Expense

600

Owner's Capital

35000

Owner's Capital

Depreciation Expense- Equipment

1600

Owner's Withdrawals

2200

Owner's Withdrawals

Service Revenue

68325

Service Revenue

31-Dec

Owner's Capital

34775

Advertising Expense

1850

Advertising Expense

Income Summary

34775

Interest Expense

300

Interest Expense

Salaries Expense

28000

Salaries Expense

31-Dec

Owner's Capital

2200

Utilities Expense

1200

Utilities Expense

Owner's Withdrawals

2200

Insurance Expense

600

Insurance Expense

Depreciation Expense- Equipment

1600

Depreciation Expense- Equipment

Totals

119925

119925

Totals