Question

Miller Company

ADJUSTED TRIAL BALANCE

December 31, 20--

	ACCOUNT TITLE	DEBIT	CREDIT
1	Cash	8,130.00
2	Accounts Receivable	3,300.00
3	Prepaid Expenses	2,750.00
4	Equipment	10,400.00
5	Accumulated Depreciation		2,200.00
6	Accounts Payable		2,700.00
7	Notes Payable		1,000.00
8	Common Stock		9,200.00
9	Retained Earnings		2,000.00
10	Dividends	4,870.00
11	Fees Earned		36,600.00
12	Wages Expense	12,450.00
13	Rent Expense	4,900.00
14	Utilities Expense	3,475.00
15	Depreciation Expense	2,150.00
16	Miscellaneous Expense	1,275.00
17	Totals	53,700.00	53,700.00

	Required:
	Prepare closing entries and the post-closing trial balance. Refer to the Chart of Accounts for exact wording of account titles.

Answer 1

The answer has been presented in the supporting sheets. Firstly closing journal entries has been passed and then post closing trial balance has been constructed. For detailed answers refer to the supporting sheets.