Question

Part 1 of 2 Required information Exercise 3-19A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) [The following information applies to the questions displayed below.) points The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit eBook Hint Debit $ 11,100 141,000 5,100 25,500 310,000 Print References Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $126,000 11,100 10,100 4,100 31,000 210,000 51,000 410,000 310,000 15,500 31,000 4,100 $853,300 $853,300

Answer 1

Closing entries

No	General Journal	Debit	Credit
	Service revenue	410000
	Retained earnings		410000
	(To close revenue)
	Retained earnings	360600
	salaries expense		310000
	Rent expense		15500
	Depreciation expense		31000
	Interest expense		4100
	(To close expense)

2) Post closing trial balance

	Debit	Credit
Cash	11100
Account receivable	141000
Prepaid rent	5100
Supplies	25500
Equipment	310000
Accumulated depreciation		126000
Account payable		11100
Salaries payable		10100
Interest payable		4100
Notes payable		31000
Common Stock		210000
Retained earnings		100400
Total	492700	492700