Prepaid Insurance 2,450 28. The order of preparing the financial statements from the adjusted trial balance is a. Income statement, balance sheet, statement of stockholders' equity b. Balance sheet, statement of stockholders' equity, income statement. c. Income statement, statement of stockholders' equity, balance sheet. d. St atement of stockholders' equity, income statement, balance sheet. 29. Which account will have a zero balance after closing entries have been journalized and posted? a. Service revenue. b. Supplies. c. Prepaid Insurance. d. Accumulated Depreciation. On January 1, 2017, Leardon Inc. purchased equipment for $45,000. The company is depreciating the equipment at the rate of $600 per month. At January 31, 2018, the balance in Accumulated Depreciation is: 30. a. $600 debit b. $7,200 credit c. $7,800 credit d. $39,900 debit