Question

The year-end adjusted trial balance of Hilltoppers Corporation included the following account balances: Cash, $3,600; Equipment, $15,600; Accounts Payable, $1,600; Common Stock, $12,000; Retained Earnings, $4,400; Dividends, $1,200; Service Revenue, $14,600; Salaries Expense, $9,600; and Utilities Expense, $2,600. Prepare the post-closing trail balance.

Answer 1

Answer:

Explanation:

The preparation of the post-closing trial balance is presented below:

                                        Hilltoppers Corporation

                                     Post-closing trial balance

Particulars                                      Debit                        Credit  

Service revenue                                                               $14,600  

Cash                                               $3,600

Accounts Payable                                                           $1,600

Utilities expense                            $2,600

Salaries expense                           $9,600

Equipment                                      $15,600

Common stock                                                                 $12,000

Retained earnings                                                            $4,400

Dividend                                         $1,200                                    

Total                                               $32,600                     $32,600