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E4-3 The following adjusted trial balance contains the accounts and balances of Showers Company as of

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The following adjusted trial balance contains the accounts and balances of Showers Company as of December 31, 2011, the end of its fiscal year.

(1) Prepare the December 31, 2011, closing entries for Showers Company. (2) Prepare the December 31, 2011, post-closing trial balance for Showers Company.

No. Account Title Debit Credit

101 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $18,000
126 Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,000
128 Prepaid insurance . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000
167 Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23,000
168 Accumulated depreciation — Equipment . . . . . . . . $ 6,500
301 R. Showers, Capital . . . . . . . . . . . . . . . . . . . . . . . . . 46,600
302 R. Showers, Withdrawals . . . . . . . . . . . . . . . . . . . . 6,000
404 Services revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . 36,000
612 Depreciation expense — Equipment . . . . . . . . . . . . 2,000
622 Salaries expense . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,000
637 Insurance expense . . . . . . . . . . . . . . . . . . . . . . . . . 1,500
640 Rent expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,400
652 Supplies expense . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200
Totals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $89,100 $89,100

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