You are to prepare the closing journal entries at the end of

the fiscal year, December $31$ and post to the closing trial

balance.

$1.$ Complete the worksheet

$2.$ Journalize Closing Entries

$3.$ Post to the General Ledgers

$4.$ Prepare a post closing trial balance

$5.$ Prepare Financial Statements

Richards Cleanning Services

WORKSHEET

Account Titles Adjusted Trial Balance Income Statement Balance Sheet

Dr$.$ Cr$.$ Dr$.$ Cr$.$ Dr$.$ Cr$.$

Cash $16500$

Accounts Recievable $17200$

Supplies $2200$

Prepaid Insurance $2100$

Equipment $14000$

Accum Depr. $-$ Equipment $1000$

Buildings $50000$

Accum Depr.$-$ Buildings $2500$

Accounts Payable $14200$

Notes Payable $4300$

Richards Owner's Equity $30000$

Richards Withdrawls$/$Drawing $500$

Service Revenue $72100$

Rent Expense $6000$

Salaries Expense $12000$

Supplies Expense $100$

Depr. Expense $-$ Equipment $1000$

Depr. Expense $-$ Buildings $2500$

$124100124100$

Net Income

GENERAL JOURNAL Page $2$

Date Account Titles and Description PR Dr$.$ Cr$.$

GENERAL LEDGER

Cash

ACCOUNT NO$.$

Date Explanation Post

Ref. Debit Credit Balance

Debit Credit

Dec $31$ Balance

Accounts Receivable ACCOUNT NO$.$

Date Explanation Post

Ref. Debit Credit Balance

Debit Credit

Dec $31$ Balance

Supplies ACCOUNT NO$.$

Date Explanation Post

Ref. Debit Credit Balance

Debit Credit

Dec $31$ Balance

Prepaid Insurance ACCOUNT NO$.$

Date Explanation Post

Ref. Debit Credit Balance

Debit Credit

Dec $31$ Balance

Equipment

Date Explanation Post

Ref. Debit Credit Balance

Debit Credit

Dec $31$ Balance

Buildings

Date Explanation Post

Ref. Debit Credit Balance

Debit Credit

Dec $31$ Balance

GENERAL LEDGER

Accum Depr Equipment ACCOUNT NO$.$

Date Explanation Post

Ref. Debit Credit Balance

Debit Credit

Dec $31$ Balance

Accum Depr Buildings ACCOUNT NO$.$

Date Explanation Post

Ref. Debit Credit Balance

Debit Credit

Dec $31$ Balance

Accounts Payable ACCOUNT NO$.$

Date Explanation Post

Ref. Debit Credit Balance

Debit Credit

Dec $31$ Balance

Notes Payable ACCOUNT NO$.$

Date Explanation Post

Ref. Debit Credit Balance

Debit Credit

Dec. $31$ Balance

Richards Owner's Equity

Date Explanation Post

Ref. Debit Credit Balance

Debit Credit

Dec. $31$ Balance

Richards Withdrawals$/$Drawing

Date Explanation Post

Ref. Debit Credit Balance

Debit Credit

Dec. $31$ Balance

Service Revenue

Date Explanation Post

Ref. Debit Credit Balance

Debit Credit