An accountant prepared the following post-closing trial balance: La Casa Services Co. POST-CLOSING TRIAL BALANCE March 31,
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Question:
An accountant prepared the following post-closing trial balance:
La Casa Services Co.
POST-CLOSING TRIAL BALANCE
March 31, 2016
| | ACCOUNT TITLE | DEBIT | CREDIT |
| 1 | Cash | 46,760.00 | |
| 2 | Accounts Receivable | 123,300.00 | |
| 3 | Supplies | | 3,700.00 |
| 4 | Equipment | | 126,800.00 |
| 5 | Accumulated Depreciation-Equipment | 34,000.00 | |
| 6 | Accounts Payable | 52,500.00 | |
| 7 | Salaries Payable | | 5,500.00 |
| 8 | Unearned Rent | 8,600.00 | |
| 9 | Common Stock | 40,000.00 | |
| 10 | Retained Earnings | 159,960.00 | |
| 11 | Totals | 465,120.00 | 136,000.00 |
Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown in the instructions are correct.
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