The adjusted trial balance at December 31, 2018, for Smith Company includes the following selected accounts.

a. Prepare entries to close these accounts in journal entry form.

b. Set up T-accounts for each of these ledger accounts. enter the balances above, and post the closing entries to them. After these entries are posted, what is the post-closing balance of the Retained Earnings account?

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Adjusted Account Balances Debit Credit Commissions revenue $84,900 Wages expense. Insurance expense. Utilities expense.. Depreciation expense.. Retained eamings $36,000 1,900 8,200 .. ... 9,800 72,100