Problem 3-9A (Algo) Preparing financial statements and closing entries LO C2, P5, P6 The adjusted trial balance of Karise Repairs on December 31 follows. KARISE REPAIRS December 31 Adjusted Trial Balance Number 101 Account Title Cash 124 Office supplies 128 Prepaid insurance 167 168 201 210 Wages payable 307 Common stock 318 319 Dividends 403 612 Equipment Accumulated depreciation-Equipment Accounts payable Retained earnings Services revenue Depreciation expense-Equipment 623 Wages expense 637 Insurance expense 640 Rent expense 650 690 Debit Credit $ 64,000 1,400 2,150 56,000 $ 5,600 15,500 1,200 19,000 36,000 17,000 131,250 5,600 40,000 1,300 13,500 3,900 3,700 Office supplies expense Utilities expense Totals $ 208,550 $208,550 Note: Retained Earnings account balance was $36,000 on December 31 of the prior year.