Please finish parts E and F from from this problem parts AD

Please finish parts E and F from from this problem (parts A-D are already finished and the data is there): https://www.chegg.com/homework-help/questions-and-answers/transactions-rock-medical-company-service-company-organized-corporation-month-march-record-q26222839

(e) Prepare closing entries and enter the transactions in the T-accounts (from part (b); journal entries can be handwritten or typed in Word/Excel; put on a separate page(s).

(f) Prepare a post-closing trial balance in EXCEL; use formulas to total the debits and credit

Solution

Answer e. Closing Journal Entry Date Particulars Dr. Amt. Cr. Amt 31-Mar Service Revenue    19,300.00 Income Summary    19,300.00 (Record to close the revenues) 31-Mar Income Summary      6,210.00 Rent Expense      1,500.00 Interest Expense            25.00 Supplies Expense          695.00 Depreciation Expense          380.00 Utility Expense          200.00 Salaries & Wages Expenses      2,500.00 Misc. Office Expenses          910.00 (Record to close the expenses) 31-Mar Income Summary    13,090.00 Retained Earnings    13,090.00 (record the close the Income Statement) Answer f. Post Closing Trial Balance As on Mar 31 Accounts Title Debits Credits Cash    39,750.00 Accounts Receivable    15,850.00 Supplies          470.00 Equipment    22,800.00 Accumulated Depreciation - Equipment          380.00 Notes Payable (Short Term)                   -   Accounts Payable    15,400.00 Common Stock    50,000.00 Retained Earnings    13,090.00 Total    78,870.00    78,870.00