Problem 3-6A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) [The following information applies to the questions displayed below.] The year-end financial statements of Rattlers Tax Services are provided below. RATTLERS TAX SERVICES Income Statement Service revenue $77,500 Expenses: Salaries $46,000 Utilities 8,200 Insurance 5,800 Supplies 2,100 62,100 Net income $15,400 RATTLERS TAX SERVICES Statement of Stockholders' Equity Total Common Retained Stockholders' Stock Earnings Equity Beginning balance, Jan. 1 $60,000 $24,500 $ 84,500 Issue stock 30,000 30,000 Net income 15,400 15,400 Dividends (6,000) (6,000) Ending balance, Dec. 31 $90,000 $33,900 $123,900 Assets Cash Accounts receivable Land RATTLERS TAX SERVICES Balance Sheet Liabilities $ 4,700 Accounts payable 7,200 Stockholders' Equity: 115,000 Common stock Retained earnings $ 3,000 $90,000 33,900 123,900 Total assets $126,900 Total liabilities and equities $126,900 Problem 3-6A Part 1 Required: 1. Record year-end closing entries. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry Clear entry View general journal 2. Prepare a post-closing trial balance. (Hint: The balance of Retained Earnings will be the amount shown in the balance sheet.) RATTLERS TAX SERVICES Post-Closing Trial Balance Accounts Debit Credit Totals