67 of 11 Problem 36A Record closing entries and prepare a po

6-7 (of 11) Problem 3-6A Record closing entries and prepare a post-closing trial balance (LO3-6,3-7 TAX SER 8,200 5,800 2,100 62,100 Insurance $15.400 Equity

Solution

Answer:

1

Date

Description

Debit $

Credit $

31-Dec

Service Revenue

77500

Retained earning

77500

( To close the Revenue account)

Date

Description

Debit $

Credit $

31-Dec

Retained earning

62100

Salary expanses

46000

Utilities Expanses

8200

Insurance Expanses

5800

Supplies Expanses

2100

( To close the Expanses account)

Date

Description

Debit $

Credit $

31-Dec

Retained Earning

6,000

Dividend

6,000

( To close the Dividend account)

2

Rattlers Tax service

Post closing trial Balance

Accounts

Debit $

Credit $

Cash

4700

Account receivable

7200

land

115,000

Account payable

3000

Common stock

90,000

Retained Earning

33900

Totals

126900

126900

Date	Description	Debit $	Credit $
31-Dec	Service Revenue	77500
	Retained earning		77500
	( To close the Revenue account)