Below is an alphabetical list of accounts of Master Cleaners as of December 31, after all adjusting entries have been posted.
Instructions:
1. Journalize the four closing entries in the proper order.
2. Record the account balances in t-accounts for owner's equity, revenue, and expense accounts. Post the closing entries in these t-accounts using number 1 through 4.
3. Prepare a post-closing trial balance.

Question

Below is an alphabetical list of accounts of Master Cleaners as of December 31, after all adjusting entries have been posted.
  Instructions:
1. Journalize the four closing entries in the proper order.
2. Record the account balances in t-accounts for owner's equity, revenue, and expense accounts. Post the closing entries in these t-accounts using number 1 through 4.
3. Prepare a post-closing trial balance.

Quizplus · Accepted Answer

The Answer of Below is an alphabetical list of accounts of Master Cleaners as of December 31, after all adjusting entries have been posted.
  Instructions:
1. Journalize the four closing entries in the proper order.
2. Record the account balances in t-accounts for owner's equity, revenue, and expense accounts. Post the closing entries in these t-accounts using number 1 through 4.
3. Prepare a post-closing trial balance.

Below Is an Alphabetical List of Accounts of Master Cleaners