Current assets Cash Stock investments Accounts receivable Supplies Prepaid insurance Total current assets $ 8.000 14.000 25,000 11,000 7.000 S65,000 Practice Exercises Journalize and post closing entries, and prepare a post-closing trial balance 1. (LO 2) Hercules Company ended its fiscal year on August 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as shown below. a11 Credit No. 101 112 157 167 Hercules Company Adjusted Trial Balance August 31, 2020 Account Titles Debit Cash $10.900 Accounts Receivable 6,200 Equipment 10,600 Accumulated Depr.-Equip. Accounts Payable Unearned Rent Revenue Owner's Capital Owner's Drawings 12.000 Service Revenue Rent Revenue Depreciation Expense 2.700 Salaries and Wages Expense 37.100 Utilities Expense 10,100 $89,600 $ 5.400 2.800 1.200 31.700 201 208 301 306 404 429 711 720 732 42,400 6,100 $89,600 Instructions a. Prepare the closing entries using page JIS in a general journal. b. Post to Owner's Capital and No. 350 Income Summary accounts. (Use the three-column form.)