Use multiple blank sheets of paper or Excel 1 Create an adjusted trial balance. (hint use very few accounts 3 asset, 2 liability 3 stockholder's equity, 1 revenue, 2 expense) Do not do a worksheet. You must have the contra accounts dividends and accumulated depreciation-eq. Make up the numbers. It must balance. 2. Create an income statement, retained earnings statement and balance sheet. 3. Journalized the closing entries. Zero out the income statement accounts to income summary, then zero out income summary to retained earnings. Zero out dividends to retained earnings. 4. Post the closing journal entries to the ledger. Use the adjusted trial balance for the beginning balances. Use a three column format. After your done all the income statement and dividend accounts should be zero to get ready for the next month. 5. Create a post closing trial balance