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Step: 3c Activity 3.c - Post to the ledger T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries

Step: 3c
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Activity 3.c - Post to the ledger T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the t-accounts and calculate ending balances for each account. For accounts that have a zero balance, enter the zero on the normal balance side. Use the acronym for closing entries as post references and include Bal. references where appropriate. For the income Summary account, calculate and enter the Balance (Bal.) before posting the entry to close out the account. Date Accounts and Explanation Debit Credit Date Dec 31 Service Revenue Accounts and Explanation Debit Credit 150.000 Dec 31 Income Summary Income Summary 69.000 150,000 Retained ning To dos Revenue 62.000 To close Income Summary Date Accounts and explanation Debit Credit Date Accounts and explanation Dec 31 Retained Emines Debit Credit 21,000 Dec 31 Income Summary 81,000 Dividends 21.000 Depreciation Expense Furniture To dos Dividends 132000 Interest Expense 18,000 Rent Expense 8.000 Sales Expense 15.000 Supplies Expense 27,000 Todose Expenses Type here to search Depreciation Expense Famniture Hent Expense Adj. Bat 13.000 Adi Bal 8.000 Dividends Service Revenge A Bal 21.000 150.000 Adi Bal Interest Expense Salaries Expense Adj Bal 18.000 AdjBal 15,000 Retained Earnings Income Summary 43,000 Adj. Bal Interest Expense Sales Expense Adj Bol 18.000 Adj Bar 15.000 Retained Earnings Income Summary 40,000 AdB Supplies Expense Ad Bal 27,000

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