Question

Please finish parts E and F from from this problem (parts A-D are already finished and the data is there): https://www.chegg.com/homework-help/questions-and-answers/transactions-rock-medical-company-service-company-organized-corporation-month-march-record-q26222839

(e) Prepare closing entries and enter the transactions in the T-accounts (from part (b); journal entries can be handwritten or typed in Word/Excel; put on a separate page(s).

(f) Prepare a post-closing trial balance in EXCEL; use formulas to total the debits and credit

Answer 1

Answer e.
Closing Journal Entry
Date	Particulars	Dr. Amt.	Cr. Amt
31-Mar	Service Revenue	19,300.00
	Income Summary		19,300.00
	(Record to close the revenues)
31-Mar	Income Summary	6,210.00
	Rent Expense		1,500.00
	Interest Expense		25.00
	Supplies Expense		695.00
	Depreciation Expense		380.00
	Utility Expense		200.00
	Salaries & Wages Expenses		2,500.00
	Misc. Office Expenses		910.00
	(Record to close the expenses)
31-Mar	Income Summary	13,090.00
	Retained Earnings		13,090.00
	(record the close the Income Statement)

Answer f.
Post Closing Trial Balance
As on Mar 31
Accounts Title	Debits	Credits
Cash	39,750.00
Accounts Receivable	15,850.00
Supplies	470.00
Equipment	22,800.00
Accumulated Depreciation - Equipment		380.00
Notes Payable (Short Term)		-
Accounts Payable		15,400.00
Common Stock		50,000.00
Retained Earnings		13,090.00
Total	78,870.00	78,870.00