Question

The December 31, 2018, adjusted trial balance for Fightin' Blue Hens Corporation is presented belovw. Accounts Debit Credit $11700 147,000 Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable $132,000 10,700 37,000 Interest Payable Notes Payable (due in two years Common Stock Retained Earnings Service Revenue Salaries Expense 270,000 470,000 18,500 37000 4,700 Interest Expense Totals $993,100 $993,100

Answer 1

1
December 31,2018	Service Revenue	470000
	Retained Earnings		470000
December 31,2018	Retained Earnings	430200
	Salaries Expense		370000
	Rent Expense		18500
	Depreciation Expense		37000
	Interest Expense		4700
2
	Post-Closing Trial Balance
	December 31,2018
	Accounts	Debit	Credit
	Cash	11700
	Accounts Receivable	147000
	Prepaid Rent	5700
	Supplies	28500
	Equipment	370000
	Accumulated Depreciation		132000
	Accounts Payable		11700
	Salaries Payable		10700
	Interest Payable		4700
	Notes Payable		37000
	Common Stock		270000
	Retained Earnings		96800	=57000+470000-430200
	Totals	562900	562900