Question 01

Numericai: Gray Eiectronic Repair Services Adjusted Trial Balance December 31, 2016 Account Title Debit Credit Cash $ 7,480.00 Accounts Receivable 3,700.00 Service Supplies 600.00 Furniture and Fixtures 3,000.00 Service Equipment 16,000.00 Accumulated Depreciation $ 720.00 Accounts Payable 9,000.00 Utilities Payable 1,800.00 Loans Payable 12,000.00 Mr. Gray, Capital 13,200.00 Mr. Gray, Drawing 7,000.00 Service Revenue 9,850.00 Rent Expense 1,500.00 Salaries Expense 3,500.00 Taxes and Licenses 370.00 Utilities Expense 1,800.00 Service Supplies Expense 900.00 Depreciation Expense 720.00 Totals $ 46,570.00 $ 46,570.00 instructions: (a) Journalize and Post the closing entries and (b) Prepare the Post-Closing Trial Balance