The December 31, 2007, adjusted trial balance of Success Systems (reflecting its transactions from October through December of 2007) follows.

Required 

1. Record and post the necessary closing entries for Success Systems.
2. Prepare a post-closing trial balance as of December 31, 2007.

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No. Account Title Debit Credit $ 80,260 101 Cash 106 Accounts receivable 5,800 126 Computer supplies.. 128 Prepaid insurance 131 Prepaid rent 163 Office equipment 164 167 Computer equipment 168 Accumulated depreciation-Office equipment. Accumulated depreciation-Computer equipment 201 Accounts payable.. 210 Wages payable 236 Unearned computer services revenue 301 A. Lopez, Capital 302 A. Lopez, Withdrawals 403 Computer services revenue 612 Depreciation expense-Office equipment 613 Depreciation expense Computer equipment 623 Wages expense 637 Insurance expense 640 Rent expense. 652 Computer supplies expense 655 Advertising expense 676 Mileage expense 677 Miscellaneous expenses. 684 Repairs expense-Computer 901 Income summary Totals 775 1.800 875 10,000 $ 625 25.000 1,250 2,100 600 2,500 110,000 8.500 36,170 625 1.250 4.650 600 2.625 4,675 2,990 1.120 300 1,400 $153,245 $153,245