Reference no: EM132919594

Joe Surfer started Joe's Surfing Supplies on 1 July 2020. The following adjusted accounts and account balances were taken from the 10-column worksheet of the business for the year ended 30 June 2021.

Accounts Receivable             $15,000
J.S, Capital 1 July 2020           70,000
J.S, Drawings                            300
Cash at Bank                          18,000
Surfing Supplies                      35,000
Sales Revenue                        90,000
Wages Expense                        24,000
Rent Expense                          15,000
Advertising Expense                    5,000
Store Furniture & Fittings             30,000
Accumulated Depreciation-Store Furniture & Fittings  16,000
Surfing Supplies Expense                 3,500
Delivery Expense                          2,700
Wages Payable                              6,000
Loan Payable                                12,000
Accounts Payable                             19,000
Depreciation expense - Store Furniture & Fittings  1,000

Problem a) Record the closing entries in general journal format for Joe's Surfing Supplies. Narrations are not required.

Problem b) List the names of the accounts to be posted in the post-closing trial-balance.