Prepare a post-closing trial balance.

Below is the closing entries for the year ended December 31, 2017

(b2) Prepare a post-closing trial balance. Crane Company Post-Closing Trial Balance Debit Credit Totals

Expert Solution

Formula sheet

A	B	C	D	E	F	G	H	I	J	K
2
3		Post closing trial Balance is the list of all the accounts and their balance after closing entry made.
4
5		Post closing trial balance:
6
7		Account Titles	Debit	Credit
8		Cash	17640
9		Accounts Receivable	41160
10		Prepaid Insurance	1764
11		Fair Value - OCI Investments	=24990-6664		=24990-6664		(Adjustment of OCI investment)
12		Equipment	96040
13		Accumulated Depreciation-Equipment		28028
14		Accounts Payable		30968
15		Salaries and Wage Payable		7056
16		Common Shares		78400
17		Retained Earnings		=58800-28322	=58800-28322		(Adjustment of Retained Earnings)
18		Total	=SUM(D8:D17)	=SUM(E13:E17)
19

ekkarill92 answered 3 years ago

Prepare a post closing trial balance

Prepare a post closing trial balance.

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