How do you prepare post-closing trial balance

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Question - Blossom Company had the following adjusted trial balance.

Blossom Company Adjusted Trial Balance For the Month Ended June 30, 2020

Account titles

Adjusted trial balance

Debit

Credit

Cash

$3,500

 

Accounts Receivable

3,700

 

Supplies

400

 

Accounts Payable

 

$1,500

Unearned Service Revenue

 

100

Owner's Capital

 

4,100

Owner's Drawings

 

400

Service Revenue

 

5,000

Salaries and Wages Expense

1,200

 

Miscellaneous Expense

200

 

Supplies Expense

1,700

 

Salaries and Wages Payable

400

 

 

$11,100

$11,100

Required -

1. How do you prepare closing entries at June 30, 2020?

2. How do you prepare post-closing trial balance?

Reference no: EM132474282

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