Sherlock Locksmiths, Inc. has the following adjusted trial balance for the year ended ­December 31, 2015.

Required
a. Journalize and post the necessary closing entries.
b. Prepare a post- closing trial balance as of December 31.

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Sherlock Locksmiths, Inc. Adjusted Trial Balance At December 31, 2015 Debit Credit Account Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation- Equipment Accounts Payable Unearned Service Revenue Wages Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service revenue Wage Expense Utilities Expense Selling Expense Administrative Expense Repairs Expense Interest Expense Insurance Expense Supplies Expense Depreciation Expense Equipment $1.734,900 778,000 250,000 130,000 360,000 S 28,000 1.275,000 39,600 280,000 60,000 320,000 1.200,000 12,000 2,160,000 1.276,000 89,200 72,500 182,000 62,000 40,000 121,000 215,000 40,000 Totals $5,362,600 5362,600