Example 4

Refer to the information presented in Example 3 and Prepare the post-closing trial balance for Soup Plus for the period ending on January 31, 20XX.

Closing Entries:

Revenues
Account Title and Explanation	Debit	Credit
Beverage Revenue	2,200
Food Revenue	6,900
Income Summary		9,100

Cash

Accounts Receivable

Supplies

Food Inventory

Beverage Inventory

Prepaid Rent

Equipment

Account Title

Accumulated Depreciation

Notes Payable

Accounts Payable

Unearned Revenue

Salaries and Wages Payable

Interest Payable

Owner's Capital

Owner's Drawings

Food Revenue

Beverage Revenue

Cost of Beverage Sold

Cost of Food Sold

Depreciation Expense

Insurance Expense

Soup Plus

Adjusted Trial Balance

January 31, 20XX

Debit

2,000

1,500

3,050

1,500

5,500

9,000

1,000

1,500

1,950

167

500

Credit

$ 35,100

Expenses
Account Title and Explanation	Debit	Credit
Income Summary	8,746
Cost of Beverage Sold		1,500
Cost of Food Sold		1,950
Depreciation Expense		167
Insurance Expense		500
Interest Expense		29
Rent Expense		500
Salaries and Wages Expense		3,600
Supplies Expense		300
Utilities Expense		200

$ 167

7,000

200

300

600

50,000

6,900

Income Summary
Account Title and Explanation	Debit	Credit
Income Summary	354
Owner's Capital		354

2,200

29

Interest Expense

Rent Expense

Salaries and Wages Expense

29

500

Owner's Drawings

Account Title and Explanation Debit Credit

3,600

Owner's Capital 1,000

Supplies Expense 300 Owner's Drawings 1,000 Utilities Expense 200

$ 67,396 $ 67,396

Account Title

Soup Plus

Post Closing Trial Balance

January 31, 20XX

Debit

Credit