Question 4 (20 marks)

The following is the adjusted trial balance as of December 31, 2019 of HALA Photography:

HALA Photography

Adjusted Trial Balance

December 31, 2019

Account	Debit	Credit
Cash	$3,400
Accounts Receivable	17,000
Supplies	200
Equipment	15,000
Accumulated DepreciationEquipment		$4,000
Accounts Payable		2,400
Salaries Payable		1,600
Unearned Revenue		1,200
Common Stock		6,800
Dividends	4,600
Service Revenue		80,000
Salaries Expense	48,000
Supplies Expense	4,600
Depreciation ExpenseEquipment	3,200	______
Total	$96,000	$96,000

Requirements:

A. Journalize the closing entries for HALA Photography (10Marks).

B. Compute the ending balance of Retained Earnings (after closing the entries) (4 mark).

C. Prepare post closing trial balance at December 31, 2019 (6 Marks).