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Verify all ending balances for each specific account after closing entries are journalized and posted. Be sure to enter all zero balances on the normal balance side and enter balances for permanent accounts!

Retained Earnings
Dec. 31	15,400	37,300	Adj. Bal.
		6,900	Dec. 31
Bal.			Bal.

Income Summary
Dec. 31	8,100	12,400	Dec. 31
		4,300	Bal.
Dec. 31	4,300
Bal.			Bal.

Furniture
Dec. 31	11,200
Bal.			Bal.

Service Revenue
Dec. 31	14,200	14,200	Adj. Bal.
Bal.			Bal.

Common Stock
		33,900	Dec. 31
Bal.			Bal.

Salaries Expense
Adj. Bal.	800	800	Dec. 31
Bal.			Bal.

Dividends
Adj. Bal.	6,200	6,200	Dec. 31
Bal.			Bal.

Accounts Payable
		1,000	Dec. 31
Bal.			Bal.

A T is drawn. The vertical line divides the account into its left and right sides. The left side of the T-account is called the debit side and the right side is called the credit side. The account name is at the top, above the horizontal line.

Fill out the Post-Closing Trial Balance as of December 31, 2016 date using the given information in the T-accounts. Enter accounts in Chart of Accounts order.

Office Supplies
Dec. 31	2,800
Bal.	2,800

Common Stock
		4,200	Dec. 31
		4,200	Bal.

Salaries Payable
		2,100	Dec. 31
		2,100	Bal.

Retained Earnings
		10,100	Dec. 31
		10,100	Bal.

SMART TOUCH LEARNING
Post-Closing Trial Balance
December 31, 2016
	Balance
Account Title	Debit	Credit
Cash	14,800
Accounts Receivable	9,900
Office Supplies
Furniture	17,500
Accumulated Depreciation--Furniture		5,900
Accounts Payable		7,900
Salaries Payable
Unearned Revenue		14,800
Common Stock
Retained Earnings
Total	45,000	45,000

A single underline below a cell represents subtotal.

A double underline below a cell represents grand total.

Using the post-closing trial balance, calculate the total assets, liabilities, and equity, and enter those amounts in the basic accounting equation.

SMART TOUCH LEARNING
Post-Closing Trial Balance
December 31, 2016
	Balance
Account Title	Debit	Credit
Cash	34,900
Accounts Receivable	6,700
Office Supplies	400
Prepaid Insurance	11,600
Prepaid Rent	11,600
Furniture	40,900
Accumulated Depreciation--Furniture		13,900
Accounts Payable		18,600
Salaries Payable		2,700
Utilities Payable		1,300
Interest Payable		1,800
Unearned Revenue		35,200
Common Stock		8,900
Retained Earnings		23,700
Total	106,100	106,100

Assets	=	Liabilities	+	Equity
	=		+