Reference no: EM132678172

Problem 1: AFI Security has journalized their adjusting entries and prepared their adjusted trial balance. Using the adjusted trial balance, prepare the closing entries directly owner's capital for the month of January and create the post-closing trial balance.

AFI Security
Adjusted Trial Balance
January 31, 2019

Cash$12,060 Dr
Accounts Receivable$5,590 Dr
Prepaid Insurance$2,520 Dr
Equipment$25,520 Dr
Accumulated Depreciation$2,740 Cr

Accounts Payable$6,180 Cr
Salaries Payable$620 Cr
Unearned Revenue$4,910 Cr
Bank Loan$7,010 Cr
Hohmeier, Capital$21,000 Cr

Hohmeier, Withdrawals$4,090 Dr

Service Revenue$17,600 Cr

Depreciation Expense$430 Dr
Insurance Expense$310 Dr
Interest Expense$410 Dr
Office Supplies Expense$2,950 Dr
Rent Expense$2,320 Dr
Salaries Expense$3,470 Dr
Telephone Expense$390 Dr

Total $60,060 Dr $60,060 Cr