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.

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Business

Ireland Esparza

18 September, 08:50

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.

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Giancarlo Leon · Answer 1

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