kPost-closmgtrlalbalance ................................................................................................................................ Now that the closing entries have been journalized and posted, you are required to prepare a post-closing trial balance. This trial balance is prepared as a nal check that closing entries have been journalized and posted correctly. Instructions for post-closing trial balance Using the general ledgerl, create a post-closing trial balance as at the end of June. Remember to enter all answers to the nearest whole dollar. Baek-On-Track functionality E! Please note that any answers from previous pages carried through onto this page (either on the page or in a popup information page) have been reset, if necessary, to the correct answers. Your particular answers from previous pages are no longer shown. (Q=960.Post closing trial balanc Cover 2 Cover Post-closing Trial Balance June 30, 2020 Name Debit Credit Account No. ($) ($) 100 Cash 102 Short-term Investments 110 ARC - Accounts Receivable Control 112 Interest Receivable 120 Merchandise Inventory 130 Office Supplies 140 Prepaid Rent 141 Prepaid Advertising 142 Prepaid Insurance 150 Office Furniture 151 Accum Depn: Office Furniture 160 Office Equipment 161 Accum Depn: Office Equipment 210 APC - Accounts Payable Control 220 Wages Payable 221 Electricity Payable 222 Water Payable 225 Interest Payable 250 Bank Loan Payable 300 Common Stock 301 Retained Earnings TotalGENERAL LEDGER POST CLOSING Account: Cash Account No. 100 Date Description Ref. Debit Credit Balance May 31 Balance 27,359 DR Jun Total from cash receipts journal CRJ 97,486 124,845 DR Jun 30 Total from cash payments journal CPJ 34,483 90,362 DR Jun 30 Interest received from the bank GJ 231 90,593 DR Jun 30 Not-Sufficient-Funds (NSF) check G. 1,000 89,593 DR Jun 30 Bank service charge GJ 89,586 DR Jun 30 Post-Closing Balance 89,586 DR Account: Short-term Investments Account No. 102 Date Description Ref. Debit Credit Balance May 31 Balance 20,000 DR Jun 30 Post-Closing Balance 20,000 DR Account: ARC - Accounts Receivable Control Account No. 110 Date Description Ref. Debit Credit Balance May 31 Balance 10,456 DR Jun 9 Sales return from Outlines GJ 5,204 5,252 DR Jun Total from sales journal SJ 16,665 21,917 DR Jun 30 Total from cash receipts journal CRJ 10,110 11,807 DR Jun 30 Not-Sufficient-Funds (NSF) check GJ 1,00 12,807 DR Jun 30 Post-Closing Balance 12,807 DR Account: Interest Receivable Account No. 112 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Accrued interest revenue GJ 100 100 DR Jun 30 Post-Closing Balance 100 DR Account: Merchandise Inventory Account No. 120 Date Description Ref. Debit Credit Balance May 31 Balance 75,784 DR Jun 30 Closing entry (opening inv.) GJ 75,784 Jun 30 Closing entry (ending inv.) GJ 63,659 63,659 DR Jun 30 Post-Closing Balance 63,659 DR Account: Office Supplies Account No. 130 Date Description Ref. Debit Credit Balance May 31 Balance 7,312 DR Jun 30 Supplies used GJ 3,656 3,656 DR Jun 30 Post-Closing Balance 3,656 DRAccount: Prepaid Rent Account No. 140 Date Description Ref. Debit Credit Balance May 31 Balance 6,000 DR Jun 30 Rent expired GJ 3,000 3,000 DR Jun 30 Post-Closing Balance 3,000 DR Account: Prepaid Advertising Account No. 141 Date Description Ref. Debit Credit Balance May 31 Balance 12,000 DR Jun Benefits consumed GJ 4,000 8,000 DR Jun 30 Post-Closing Balance 8,000 DR Account: Prepaid Insurance Account No. 142 Date Description Ref. Debit Credit Balance May 31 Balance 3,000 DR Jun 30 Insurance expired GJ 600 2,400 DR Jun 30 Post-Closing Balance 2,400 DR Account: Office Furniture Account No. 150 Date Description Ref. Debit Credit Balance May 31 Balance 8,000 DR Jun 30 Post-Closing Balance 8,000 DR Account: Accum Depn: Office Furniture Account No. 151 Date Description Ref. Debit Credit Balance May 31 Balance 1,653 CR Jun 30 Depreciation - one month GJ 97 1,750 CR Jun 30 Post-Closing Balance 1,750 CR Account: Office Equipment Account No. 160 Date Description Ref. Debit Credit Balance May 31 Balance 48,000 DR Jun 30 Post-Closing Balance 48,000 DR Account: Accum Depn: Office Equipment Account No. 161 Date Description Ref. Debit Credit Balance May 31 Balance 19,907 CR Jun 30 Depreciation - one month GJ 398 20,305 CR Jun 30 Post-Closing Balance 20,305 CRAccount: APC - Accounts Payable Control Account No. 210 Date Description Ref. Debit Credit Balance 11,473 CR May Balance 18 Purchase return to Stompson GJ 1.434 10,039 CR Jun Jun 30 Total from purchases journal PJ 6,430 16,469 CR Jun 30 Total from cash payments journal CPJ 14,439 2,030 CR Jun 30 Post-Closing Balance 2,030 CR Account: Wages Payable Account No. 220 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Accrued wages expense GJ 1,440 1,440 CR Jun 30 Post-Closing Balance 1,440 CR Account: Electricity Payable Account No. 221 Date Description Ref. Debit Credit Balance May 31 Balance 0 30 Accrued electricity expense GJ 996 996 CR Jun 30 Post-Closing Balance 996 CR Jun Account: Water Payable Account No. 222 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Accrued water expense GJ 208 208 CR Jun 30 Post-Closing Balance 208 CR Account: Interest Payable Account No. 225 Date Description Ref. Debit Credit Balance May 31 Balance 0 215 CR Jun 30 Accrued interest expense GJ 215 Jun 30 Post-Closing Balance 215 CR Account: Bank Loan Payable Account No. 250 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun Loan from MRMC Bank CRJ 43,000 43,000 CR Jun 30 Post-Closing Balance 43,000 CR Account: Common Stock Account No. 300 Date Description Ref. Debit Credit Balance May 31 Balance 85,000 CR Jun 30 Post-Closing Balance 85,000 CRAccount: Retained Earnings Account No. 301 Date Description Ref. Debit Credit Balance May 31 Balance 99.878 CR Jun 30 Transfer from Income Summary GJ 4,386 104,264 CR Jun 30 Post-Closing Balance 104,264 CR Account: Income Summary Account No. 310 Date Description Ref. Debit Credit Balance May 31 Balance 0 122,487 DR Jun 30 Closing entry to debit the Income Summary account GJ 122,487 Jun 30 Closing entry to credit the Income Summary account GJ 126,873 4,386 CR Jun 30 Transfer to Retained Earnings GJ 4,386 Jun 30 Post-Closing Balance 0 Account: Sales Revenue Account No. 400 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun 30 Total from sales journal SJ 16,665 16,665 CR Jun 30 Total from cash receipts journal CRJ 44,709 61,374 CR Jun 30 Closing entry GJ 61,374 Jun 30 Post-Closing Balance Account: Sales Returns and Allowances Account No. 401 Date Description Ref. Debit Credit Balance May 31 Balance 0 Jun Sales return from Outlines GJ 5,204 5,204 DR 30 Closing entry GJ 5,204 0 Jun 0 Jun 30 Post-Closing Account: Sales Discounts Account No. 402 Date Description Ref. Debit Credit Balance May Balance Jun 30 Total from cash receipts journal CRJ 333 333 DR Jur 30 Closing entry GJ 333 Jun 30 Post-Closing Balance Account: Interest Revenue Account No. 403 Date Description Ref. Debit Credit Balance May 31 Balance 0 30 Interest received from the bank GJ 231 CR Jun 231 30 Accrued interest revenue GJ 100 331 CR Jun Jun 30 Closing entry GJ 331 Jun 30 Post-Closing BalanceAccount: Purchases Account No. 500 Date Description Ref. Debit Credit Balance May 31 Balance Jun 30 Total from purchases journal 6,430 6,430 DR 3,750 10, 180 DR Jun 30 Total from cash payments journal CPJ Jun 30 Closing entry GJ 10, 180 Jun 30 Post-Closing Balance Account: Purchase Returns and Allowances Account No. 501 Date Description Ref. Debit Credit Balance May 31 Balance 0 18 Purchase return to Stompson GJ 1,434 1,434 CR Jun Jun 30 Closing entry GJ 1,434 Jun 30 Post-Closing Balance Account: Purchase Discounts Account No. 502 Date Description Ref. Debit Credit Balance 0 May 31 Balance 30 Total from cash payments journal CPJ 75 75 CR Jun Jun 30 Closing entry GJ 75 0 Jun 30 Post-Closing Balance Account: Advertising Expense Account No. 511 Date Description Ref. Debit Credit Balance May 31 Balance 30 Benefits consumed 4,000 4,000 DR Jun GJ Jun 30 Closing entry GJ 4,000 Jun 30 Post-Closing Balance 0 Account: Wages Expense Account No. 516 Date Description Ref. Debit Credit Balance May 31 Balance 0 5,746 DR Jun 15 Paid staff wages CPJ 5,746 29 Paid staff wages CPJ 5,323 11,069 DR Jun 12,509 DR Jun 30 Accrued wages expense GJ 1,440 Jun 30 Closing entry GJ 12,509 Jun 30 Post-Closing Balance Account: Rent Expense Account No. 540 Date Description Ref. Debit Credit Balance 0 May 31 Balance 000 DR Jun 30 Rent expired GJ 3,000 Jun 30 Closing entry GJ 3,000 0 Jun 30 Post-Closing Balance 0Account: Electricity Expense Account No. 541 Date Description Ref. Debit Credit Balance May 31 Balance 0 996 DR Jun 30 Accrued electricity expense GJ 996 Jun 30 Closing entry GJ 996 Jun 30 Post-Closing Balance Account: Water Expense Account No. 542 Date Description Ref. Debit Credit Balance May 31 Balance 208 208 DR Jun 30 Accrued water expense GJ Jun 30 Closing entry GJ 208 Jun 30 Post-Closing Balance Account: Insurance Expense Account No. 543 Date Description Ref. Debit Credit Balance May 31 Balance 30 Insurance expired GJ 600 600 DR Jun Jun 30 Closing entry GJ 600 Jun 30 Post-Closing Balance Account: Office Supplies Expense Account No. 544 Date Description Ref. Debit Credit Balance May 31 Balance GJ 3,656 DR Jun 30 Supplies used 3,656 -...... Jun 30 Closing entry GJ 3,656 Jun 30 Post-Closing Balance Account: Salary Expense Account No. 545 Date Description Ref. Debit Credit Balance May 31 Balance CPJ 5,300 6,300 DR Jun 30 Paid salary Jun 30 Closing entry GJ 5,300 Jun 30 Post-Closing Balance Account: Depn Expense: Office Furniture Account No. 560 Date Description Ref. Debit Credit Balance May 31 Balance U Jun 30 Depreciation - one month GJ 97 97 DR 30 GJ 97 Jun Closing entry Jun 30 Post-Closing BalanceAccount: Depn Expense: Ofce Equipment Account No. 561 Description Balance Depreciation - one month Closing entry Post-Closing Balance Account: Interest Expense Account No. 571 Description Accrued Int Closing entry Post-Closing Balance Account: Admin. Expense - Bank Charges Account No. 572 Description Balance Bank service charge Closing entry Post-Closing Balance