Sally's Rentals Adjusted Trial Balance - As of July 31, 2018 Account Name Credit Debit 63,000 1,100 400 5,667 100,000 0 1 2 2,000 220 170,000 3 4 Number 101 106 124 128 173 174 209 301 302 401 606 622 637 640 650 684 688 901 2,200 Cash Accounts Receivable Office Suppplies Prepaid Insurance Buildings Accumulated Depreciaiton - Buildings Salaries Payable Sally Jo, Capital Sally Jo, Withdrawals Rental Fees Earned Depreciation Expense - Buildings Salaries Expense Insurance Expense Rent Expense Office Supplies Expense Repairs Expense Telephone Expense Income Summary 10,100 5 6 7 8 9 0 1 2 2,000 2,220 333 2,000 2,600 600 200 3 4 5 TOTALS 182,320 182,320 6 7 On July 1, 2018, Sally Jo started a rental business, Sally's Rentals. The following transactions occurred during the company's first month: Jul 1 Sally invested $70,000 cash Jul 1 In addition to cash, Sally invested buildings worth $100,000 in the company Jul 2 The company rented equipment by paying $2,000 cash for the first month's rent Jul 5 The company purchased $3,000 of office supplies for cash Jul 10 The company paid $6,000 cash for the premium on a 12-month insurance policy coverage begins on July 11 Jul 14 The company paid an employee $1,000 cash for two weeks' salary earned Jul 24 The company collected $9,000 cash for rental fees from customers Jul 28 The company paid $1,000 cash for two weeks' salary earned by an employee Jul 29 The company paid $600 cash for minor repairs to a leaking roof Jul 30 the company paid $200 cash for this month's telephone bill Jul 31 Sally withdrew $2,200 cash from the company for personal use 1. On the ninth worksheet, use the Adjusted Trial Balance (from #4 above) and the closing entries (from #8 above) to prepare a Post-Closing Trial Balance for Sally's Rentals as of July 31, 2018. Sally's Rentals Post Closing Trial Balance As of July 31, 2018 Credit Cash Debit 63,000 1,100 400 5,667 100,000 2,000 167,947 2,053 Number Account Name 101 106 Accounts Receivable 124 Office Suppplies 128 Prepaid Insurance 173 Buildings 174 Accumulated Depreciaiton - Buildings 209 Salaries Payable 301 Sally Jo, Capital 302 Sally Jo, Withdrawals 401 Rental Fees Earned 606 Depreciation Expense - Buildings 622 Salaries Expense 637 Insruance Expense 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary 2,200 10,100 TOTALS 172,367 182,100