Accounting Balance Sheet, Income Statement and Statement of Retained Earnings.

| December 5, 2017

Following is the adjusted trial balance of Post Company. Based on this information prepare a Balance Sheet, Income Statement and Statement of Retained Earnings. Explain the closing entry process and prepare the closing entries in journal form based on the informationPOST COMPANYADJUSTED TRIAL BALANCEDebitCreditCash80,000Accounts Receivable12,000Prepaid Insurance2,000Equipment4,000Accumulated Depreciation100Supplies400Accounts Payable800Wages Payable200Unearned Revenue1,200Contributed Capital82,400Retained Earnings0Sales16,000Gas Expense200Supply Expense400Insurance Expense400Depreciation Expense100Wage Expense200Dividends1,000100,700100,700

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