Question: Problem 3-6B (Algo) Record closing entrles and prepare a post-closing trial balance (LO3-6, 3-7) The year-end financial statements of Monarch Financial Services are provided below




Problem 3-6B (Algo) Record closing entrles and prepare a post-closing trial balance (LO3-6, 3-7) The year-end financial statements of Monarch Financial Services are provided below 1. Fircordyesiend ciosing erties Complete this question by entering your answers in the tabs below. Record year-end closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Req account field.) Journal entry worksheet Record the entry to close the revenue accounts. Notes Enter debics hefore credits. Record year-end closing entries. (If no entry is required for a particular transaction/event, select "No Journal En account field.) Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits berore credits Record year-end closing entries. (If no entry is required for a particular transaction/event, select "No Jo account field.) Journal entry worksheet Record the entry to close the dividends account. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Prepare a post-closing trial balance. (Hint: The balance of Retained Earnings will be the amount shown in the balance sheet.)
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