The adjusted trial balance columns of the worksheet for Wania Company, owned by

J. Wania, are as follows.

No. Account Titles Debit Credit

101 Cash 5300

112 Accounts Receivable 10800

126 Supplies 1500

130 Prepaid Insurance 2000

157 Equipment 27000

158 Accumulated Depreciation -Equipment 5600

200 Notes Payable 15000

201 Accounts Payable 6100

212 Salaries and Wages Payable 2400

230 Interest Payable 600

301 Owner's Capital 13000

306 Owner's Drawings 7000

400 Service Revenue 61000

610 Advertising Expense 8400

631 Supplies Expense 4000

711 Depreciation Expense 5600

722 Insurance Expense 3500

726 Salaries and Wages Expense 28000

905 Interest Expense 600

1 03700 103700

Instructions

(a) Prepare the closing entries. Use J14 for the journal page.

(b) Post the closing entries. Use the three-column form of account. Income Summary is

No. 350.

(c) a post-closing trial balance.