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The following adjusted trial balance contains the accounts and balances of Showers Company as of December 31, 2011, the end of its fiscal year.
(1) Prepare the December 31, 2011, closing entries for Showers Company.
(2) Prepare the December 31, 2011, post-closing trial balance for Showers Company.
No.
Account Title
Debit
Credit
101
Cash
$18,000
126
Supplies
12,000
128
Prepaid insurance
2,000
167
Equipment
23,000
168
Accumulated depreciation - Equipment
$6,500
301
R. Showers, Capital
46,600
302
R. Showers, Withdrawals
6,000
404
Services revenue
36,000
612
Depreciation expense - Equipment
622
Salaries expense
21,000
637
Insurance expense
1,500
640
Rent expense
2,400
652
Supplies expense
1,200
Totals
$89,100
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