Prepare Financial Statements

Closing entries annually on 31 Dec. 2016

And Preparing after-closing trial balance

Sunrise Consulting Limited Adjusted Trial Balance 31 Dec 2016 38,000 4,000 1,000 8,000 180 54,000 Cash Accounts receivable Office supplies Prepaid rent Unexpired insurance Office equipment Accum. depreciation: office eq Accounts payable Sala Interest Payable Income taxes payable Notes payable Unearned consulting services revenue Share capital Retained earnings Dividends Consulting services revenue Office supplies expense Depreciation exp.: office edq Rent Expenses Insurance Expense Salaries Expense Interest Expense Income taxes expense $36,000 2,400 1,900 420 3,850 13,000 8,300 30,000 ries Payable 10,270 1,000 65,200 600 9,000 4,000 1,100 22,000 420 7,500 Total 161,070 $161,070