Question 9: The following is the post-closing trial balance for Gulf Corporation. Prepare the balance sheet as on December 31.2011 Gulf Corporation Post-Closing Trial Balance As on December 31, 2011 Debit Credit Accounts receivable 5,000 Land 30,00 ildi mulated depreciation-building 35,00 Accumulated depreciation- equipment 7,000 Salary payable 51,20 10,000 15,000 vable Common Stock par value $5 Paid in Capital in Excess of Par in Capital in Excess of Par Retained Earnings aid 42,21 Total Current Assets: Liabilities: Long Term Assets: Stockholder's Equity Total Assets lders