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Prepare Post Closing Trial Balance given this information MARS LTD. Adjusted Trial Balance Cash 50,000.00 Accounts Receivable 40,000.00 Prepaids 2,000.00 Building 120,000.00 Accumulated Dep.

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Prepare Post Closing Trial Balance given this information MARS LTD. Adjusted Trial Balance Cash 50,000.00 Accounts Receivable 40,000.00 Prepaids 2,000.00 Building 120,000.00 Accumulated Dep. - Building 6,000.00 Accounts Payable 40,000.00 Salaries Payable 20,000.00 Retained Earnings 96,000.00 Revenue Salaries Expense Other Expenses Requirement 1. Close Revenue Accounts 2. Close Expense Accounts 3. Close Income Summary Accounts 4. Post Closing Trial Balance 80,000.00 20,000.00 10,000.00

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