Worksheet data for Savaglia Company are presented In Exercise,
In Exercise,

Instructions
(a) Journalize the closing entries at April 30.
(b) Post the closing entries to Income Summary and Owner€™s Capital. Use T-accounts.
(c) Prepare a post-closing trial balance at April30.

SAVAGLIA COMPANY Worksheet (partial) For the Month Ended April 30, 2017 Adjusted Trial Balance Income Statement Balance Sheet Account Titles Dr Cr Cr Cash Accounts Receivable Prepaid Rent Equipment Accumulated 10,000 7,840 2,280 23,050 4,900 5,700 4,920 27,960 Depreciation -Equip Notes Payable Accounts Payable Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Rent Expense Depreciation Expense Interest Expense Interest Payable Totals 3,650 15,590 10,840 760 650 57 57 59,127 59,127