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	Mount Olive Corporation
	Trial Balance
	For The Year Ending December 31, 2023
	Account	Account #	Debit	Credit
	Cash	101	$ 558,000.00
	Accounts Receivable	102	$ 55,000.00
	Allowance for Doubtful Accounts	103		$ 10,000.00
	Prepaid Expenses	104	$ 12,000.00
	Inventory	105	$ 19,000.00
	Supplies	106	$ 6,000.00
	Equipment	107	$ 40,000.00
	Accumulated Depreciation	108		$ 15,000.00
	Accounts Payable	201		$ 90,000.00
	Notes Payable	202		$ 50,000.00
	Unearned Revenue	203		$ 40,000.00
	Common Stock	301		$ 250,000.00
	Income Summary	302	$ -	$ -
	Dividends	303	$ 14,500.00
	Retained Earnings	304		$ 110,000.00
	Sales Revenue - Landscapping	401		$ 93,000.00
	Sales Revenue - Landscapping	402		$ 86,000.00
	Expense - Fuel	403	$ 9,000.00
	Expense - Payroll	404	$ 8,000.00
	Expense - Insurance	405	$ 6,000.00
	Expense - Taxes	406	$ 7,000.00
	Expenses - Supplies	407	$ 5,000.00
	Expense - Depreciation	408	$ 4,500.00
	Totals		$ 744,000.00	$ 744,000.00
	Instructions:
	Please use the trial balance data to complete (1) Closing journal entries for December 31, 2023
	and (2) complete the Income Statement, Statement of Retained Earnings, and Balance Sheet.

	Date	Account	Account #	Debit	Credit

	Mount Olive Corporation		Mount Olive Corporation
	Income Statement		Balance Sheet
	For The Year Ending December 31, 2023		For The Year Ending December 31, 2023
	Mount Olive Corporation
	Statement of Retained Earnings
	For The Year Ending December 31, 2023

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