Key Accounting Principles Volume 1, 4th Edition - Textbook - page 405

Appendix I Review Exercise Solutions
405
Account: Depreciation Expense GL. No. 510
Date Description PR DR CR Balance
2016
Jun 30 Adjusting Entry J2 100 100 DR
Jun 30 Closing Entry J3 100 0 DR
Account: Insurance Expense GL. No. 515
Date Description PR DR CR Balance
2016
Jun 30 Adjusting Entry J2 100 100 DR
Jun 30 Closing Entry J3 100 0 DR
Account: Interest Expense GL. No. 520
Date Description PR DR CR Balance
2016
Jun 30 Adjusting Entry J2 25 25 DR
Jun 30 Closing Entry J3 25 0 DR
Account: Rent Expense GL. No. 540
Date Description PR DR CR Balance
2016
Jun 1 J1 900 900 DR
Jun 30 Closing Entry J3 900 0 DR
c) Prepare the post-closing trial balance.
CG Accounting
Post-Closing Trial Balance
June 30, 2016
Account Titles DR CR
Cash $5,550
Accounts Receivable 5,500
Prepaid Insurance 1,100
Equipment 6,000
Accumulated Depreciation $100
Accounts Payable 2,750
Interest Payable 25
Unearned Revenue 450
Bank Loan 3,050
Gordon, Capital 11,775
Total $18,150 $18,150