Kelly Consulting Post-Closing Trial Balance May 31, 2018 Debit Balances Credit Balances 44,195 8,080 Account Title Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Office Equipment < Accumulated Depreciation Accounts Payable Salaries Payable Unearned Fees Common Stock Retained Earnings 715 1,600 1,225 14,500 660 895 325 3,210 70,315 70,315 Comprehensive Problem 1 Part 10: The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts. Note: You must complete parts 1, 2, 3, 4, 6, 7, 8 and 9 before completing part 10. Part 5 is optional. Prepare a post-closing trial balance. If an amount box does not require an entry, leave it blank. Kelly Consulting Post-Closing Trial Balance May 31, 2018 Account Title Debit Balances Credit Balances Cash 44,195 Accounts Receivable Supplies Prepaid Rent 8,080 715 1,600 Prepaid Insurance 1,225 Office Equipment 14,500 Accumulated Depreciation 660 Accounts Payable 895 review of the concepts. Note: You must complete parts 1, 2, 3, 4, 6, 7 and 8 before completing part 9. Part 5 is optional. Part 9: Prepare the closing entries below. Then, using the attached spreadsheet from part 2, post the entries to your general ledger. If an amount box does not require an entry, leave it blank. Date Account Name Post. Ref. Debit Credit 20Y8 Closing Entries May 31 Fees Earned Salary Expense Rent Expense Supplies Expense Depreciation Expense Insurance Expense Miscellaneous Expense Retained Earnings May 31 Retained Earnings Dividends 40,000 X 40,000 X 6,575 X 1,705 X 1,600 X 1,370 X 330 X Post-Closing Trial Balance May 31, 20Y8 Debit Balances Credit Balances 44,195 8,080 Account Title Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance 715 1,600 1,225 Office Equipment 14,500 Accumulated Depreciation 660 Accounts Payable Salaries Payable 895 325 3,210 Unearned Fees Common Stock Retained Earnings 70,315 70,315