Using the information provided in E4- 16, prepare the necessary closing entries for Magic Cleaning Services at year-end.
In E4-16

Required
a. Prepare the necessary closing entries for Magic Cleaning Services at year end.
b. Prepare the post- closing trial balance for Magic Cleaning Services at year- end.

Transcribed Image Text:

Magic Cleaning Services Unadjusted Trial Balance At December 31 Account Cash Accounts Recervable Supplies Prepaid Rent Building Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Service Revenue Waga Expense Utilities Expense Administrative Expense Debit Credit $430,900 159,000 111,000 2,400 90,000 45,900 98,000 100,000 619,200 48,600 6,200 16,000 Totals $863.100 863.100