LAST CHANCE COMPANTY Post-Closing Trial Balance June 30, 2018 Credit Balances Debit 5,100 26,500 2,300 525 80,000 340,000 Cash Accounts Receivable Prepaid Insurance Land Building 193,000 140,000 Equipment Accumulated Depreciation- Equipment Accounts Payable Salaries & Wages Payable Unearned Rent Common Stock 59,000 9,750 1,900 1,500 90,000 239 Retained Eanings | 594,425| 594,425 D-On the basis of the end-of-period spreadsheet of Last Chance Company (copy attached Journalize the closing entries using the four (4) steps: 1) close revenues to Income Summa Account; 2) close all the expenses to the clearing account; 3) close Income Summary, and 4) close the Dividends account. Follow the format shown below: L Los(Crrhes. Date June 30 D escription Debit Credit Fees Earned Rent Revenue Income Summary 30 Income Summary Salaries & wasss Enpenss Data 0e s ari ption cPz raus! 3o Retauned Eanns Incom Sunnary LAST CHANCE COMPANTY Post-Closing Trial Balance June 30, 2018 Credit Balances Debit 5,100 26,500 2,300 525 80,000 340,000 Cash Accounts Receivable Prepaid Insurance Land Building 193,000 140,000 Equipment Accumulated Depreciation- Equipment Accounts Payable Salaries & Wages Payable Unearned Rent Common Stock 59,000 9,750 1,900 1,500 90,000 239 Retained Eanings | 594,425| 594,425 D-On the basis of the end-of-period spreadsheet of Last Chance Company (copy attached Journalize the closing entries using the four (4) steps: 1) close revenues to Income Summa Account; 2) close all the expenses to the clearing account; 3) close Income Summary, and 4) close the Dividends account. Follow the format shown below: L Los(Crrhes. Date June 30 D escription Debit Credit Fees Earned Rent Revenue Income Summary 30 Income Summary Salaries & wasss Enpenss Data 0e s ari ption cPz raus! 3o Retauned Eanns Incom Sunnary