Instructions:

1) Prepare the required closing entries.

2) Post the accounts to the general ledger.

3) Prepare the post-closing trial balance.

Ralph's Services Adjusted Trial Bal. at Dec. 31/07 Debit Credit Cash $4,300 1.400 Accts. Receivable Unearned revenue $700 4,000 12,000 Ralph, Capital Ralph. Withdrawals 1,000 Service revenue Advertising expense 7.000 Utilities expense 3,000 Totals $16,700 Instructions: 1) Prepare the required closing entries. 2) Post the accounts to the general ledger. 3) Prepare the post-closing trial balance. $ 16,700