Assignment

(Use the Excel templates in MyLab Accounting to complete this question. The adjusting entries have been posted and are reflected in the ledger account balances in the Excel templates.)

1. Journalize the closing entries.

2. Post the closing entries to the ledger.

3. Prepare a post-closing trial balance.

Tony has decided to end the Precision Computer Centre's first year as of July 31, 2022. Below is an undited chart of occounts. Tony has decided to end the Precision Computer Centre's first year as of July 31, 2022. Below is an undited chart of occounts