Question

could some help me with the post-closing entries and post-closing trial balance? Could you please try to stay within the same format. Thank You.

General Ledger Interest Receivable Debit Credit 0 Notes Receivable Debit Credit 15000 0 Trial Balance Total 0 Cash Debit Credit 115000 62000 4350 21000 96000 6000 7350 13968 23000 8640 1905 4000 1600 Trial Balance Total 126587 Trial Balance Total 15000 0 Adjusted Trial Balance Total 15000 Adjusted Trial Balance Total 0 Supplies Debit Credit 0 Buildings Debit Credit 62000 0 Adjusted Trial Balance Total | 126587 Trial Balance Total 62000 Trial Balance Total 0 1800 Adjusted Trial Balance Total 1800 Adjusted Trial Balance Total 62000 Accounts Receivable Debit Credit 7500 7500 13500 Trial Balance Total 13500 Prepaid Insurance Debit Credit 6000 0 0 Vehicles Debit Credit 21000 300 20700 Trial Balance Total 0 Adjusted Trial Balance Total 13500 Trial Balance Total 6000 500 Adjusted Trial Balance Total 5500 Allowance for Uncollectible Accounts Debit Credit Adjusted Trial Balance Total 0 Inventory Debit Credit 14400 7200 8640 3600 6480 Trial Balance Total 0 405 Adjusted Trial Balance Total 405 Accumulated Depreciation Debit Credit 0 0 1 Trial Balance Total Trial Balance Total 5760 200 Adjusted Trial Balance Total 200 Adjusted Trial Balance Total 5760

reply to: need time

im cinfuzed in your question do you mean the like when these are being closed. which is Dec 31. or do you mean it will take yoh some time?

Answer 1

	Closing Entries
		Debit	Credit
Dec-31	Service Revenue	3480
	Interest revenue	75
	Sales Revenue	36870
	Gain	2300
	To Income Summary		42725
	Income Summary	33283
	To Cost of Goods Sold		17280
	To Supplies expenses		5000
	To Depreciation Expenses		500
	To Insurance expense		500
	To Salaries expenses		5200
	To Interest Expenses		530
	To Bad Debt Expenses		405
	To Income Tax Expenses		3700
	To Sales Discount		-282
	To Warranty Expenses		450
	Income Summary	9442
	To Retained Earnings		9442
	(42725-33283)
	Retained earnings	1600
	To Dividend		1600

Post Closing Trial Balance
	Debit	Credit
Cash	126587
Accounts Receivable	13500
Allowance for Uncollectible Accounts		405
Supplies	1800
inventory	5760
Prepaid Insurance	5500
Notes Receivable	15000
Building	62000
Accumu. Depreciation		200
Income tax Payable		3700
Accounts payable		3200
Notes Payable		113625
Salaries payable		1200
Interest Payable		-75
Warranty Liability		450
Common Stock		96000
Retained Earnings		7842
Deferred Revenue	870
	231017	226547
Difference		4470

*** There is a difference in adjusted trial balance(see below) that reflected here too..

Adjusted Trial Balance (from Ledger balances that you provided	)
	Debit	Credit
Service Revenue		3480
Interest revenue		75
Sales Revenue		36870
Gain		2300
Cost of Goods Sold	17280
Supplies expenses	5000
Depreciation Expenses	500
Insurance expense	500
Salaries expenses	5200
Interest Expenses	530
Bad Debt Expenses	405
Income Tax Expenses	3700
Sales Discount		282
Warranty Expenses	450
Dividend	1600
Cash	126587
Accounts Receivable	13500
Allowance for Uncollectible Accounts		405
Supplies	1800
inventory	5760
Prepaid Insurance	5500
Notes Receivable	15000
Building	62000
Accumu. Depreciation		200
Income tax Payable		3700
Accounts payable		3200
Notes Payable		113625
Salaries payable		1200
Interest Payable	75
Warranty Liability		450
Common Stock		96000
Retained Earnings		0
Deferred Revenue	870
	266257	261787
Difference		4470

Hope you Understood.
If you have any doubt please leave a comment. Thank you.