Below is the adjusted trial balance for Computer Services as of December 31, 2011.
Adjusted
Trial Balance
Dr. Cr.
Cash 8,405
Accounts Receivable 5,147
Supplies 2,575
Prepaid Insurance 1,580
Equipment 6,000
Accumulated Depreciation – Equip 600
Accounts Payable 3,489
Salaries Payable 1,155
Unearned Rent Revenue 575
Jack Smith, Capital 10,000
Jack Smith, Drawing 4,500
Service Revenue 33,017
Rental Revenue 1,050
Depreciation Expense 600
Insurance Expense 680
Rent Expense 3,500
Salaries Expense 12,854
Supplies Expense 2,587
Utilities Expense 1,458
Totals 49,886 49,886
Requirements:
A. Prepare the necessary closing entries as of December 31,2011
B. Post the closing entries to the selected ledger accounts.
C. Prepare a Post Closing Trial Balance.