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Exercise 3-18 Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) Laker Incorporated's fiscal year-end is December 31, 2018. The following is an
Exercise 3-18 Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) Laker Incorporated's fiscal year-end is December 31, 2018. The following is an adjusted trial balance as of December 31 $11,300 35,500 26,500 Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings $ 2,300 23,000 8,300 54,700 3,300 Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense 19,300 12,300 9,300 7,300 $124,800 124,800
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