$4$:$00$ PM Thu May $30$

AC$1...$plate

Home

Insert

Freeze Panes

$f_x$ Enter text or formula here

$\backslash$table$[[$A$,$B$,$C$,$D$,$E$,$F$,$G$],[$Closing Problem,,,,,,$]]$

The ledger accounts of E$-$Resources appear as follows on March $31,201$X:

All accounts have normal balances. Journalize and post the closing entries. The adjusted trial balance balances have been entered into the General Ledgers accounts for you.

Journal the closing entries

Post the closing entries to the GL accounts

Include revenue, expenses and draw

Prepare a post closing trial balance

$\backslash$table$[[$TRIAL BALANCE,Adjusted Trail Balance$],[,$DR$,$CR$],[$Cash$,80,000,],[$accounts rec,$58,820,],[$Supplies$,10,600,],[$Ppd Insurance,$25,000,],[$Equipment$,118,000,],[$Accum Drp Equip,,$41,320],[$Accounts Payable,,$13,000],[$Capital$,,130,000],[$Draw$,13,000,],[$Fee income,,$374,460],[$Depr expense eq$,21,160,],[$Salary expense,$166,000,],[$Insurance expense,$11,400,],[$Rent expense,$33,000,],[$Supply expense,$5,600,],[$Telephone expens,$6,800,],[$utilities expense,$9,400,],[$Totals$,558,780,558,780]]$

Prepare the Closing Entries

Closing entries