Chapter 3, Problem 41BE

Preparing closing entries (Learning Objective 4) 10-15 min.

The following is the adjusted trial balance of Health Services, Inc., for December 31,2018

Health Services, Inc. Adjusted Trial Balance December 31, 2018
		ACCOUNT	DEBIT	CREDIT
		Cash	$ 6,400
		Accounts Receivable	12,000
		Supplies	220
		Furniture	6,500
		Accumulated Depreciation, Furniture		$ 1,800
		Equipment	21,000
		Accumulated Depreciation. Equipment		3,400
		Accounts Payable		1,000
		Salaries Payable		4,300
		Unearned Service Revenue		2,500
		Common Stock		21,000
		Retained Earnings		19,920
		Dividends	18,000
		Service Revenue		77,800
		Salaries Expense	53,400
		Rent Expense	11,700
		Depreciation Expense, Equipment	1,200
		Depreciation Expense, Furniture	800
		Supplies Expense	500
		Total	$131,720	$131,720

Requirement

1. 1. Journalize the closing entries at December 31.