Instruction:

(a) Complete the worksheet by extending the balances to the financial statement columns

(b) Post the closing entries. Use the three-column form of account. Income Summary is No. 350.

(c) Prepare a post-closing trial balance.

ROCKET COMPANY INC. Worksheet For the Year Ended December 31, 2018 Adjusted Trial Balance Dr. Cr. No. Account Titles 101 Cash 8,100 112 Accounts Receivable 10,800 126 Supplies 1,500 130 Prepaid Insurance 2,000 151 Office Equipment 24,000 152 Accumulated Depreciation Office Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stock 320 Retained Earnings 332 Dividends 7,000 400 Service Revenue 610 Advertising Expense 8,400 631 Supplies Expense 4,000 711 Depreciation Expense 5,600 722 Insurance Expense 3.500 726 Salaries Expense 31,000 905 Interest Expense 600 Totals 106,500 5,600 15,000 6,100 2,400 600 10.000 5,800 61,000 106,500