Refer to the data for Rainbow Lodge Ltd. in P4-11A.

Data in P4-11A.

Instructions
(a) Prepare the closing journal entries.
(b) Post the closing entries to the T accounts prepared in P4-11A.
(c) Prepare a post-closing trial balance at May 31.

Debit Credit $ 6,400 11,800 4,880 4,550 106,370 168,000 Accounts receivable Supplies Prepaid insurance Buildings Accumulated depreciation-buildings Furniture Accumulated depreciation-furniture Accounts payable Unearned revenue Mortgage payable, due in 2019 Common shares Retained earnings Dividends Rent revenue Salaries expense Utilities expense Interest expense Insurance expense Advertising expense Income tax expense 16,800 33,600 13,440 8,140 126,000 2,000 98,700 23,870 9,240 6,370 1,000 7,000 $483,780 $483,780