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Rockin Rick MusicRockin Rick Music...

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Question

Accounting

Rockin Rick MusicRockin Rick Music Company uses a perpetual inventory system. The adjusted trial balance of Rockin Rick MusicRockin Rick Music Company at June 30 comma 2016June 30, 2016, follows:

Requirements

3.

Prepare a post-closing trial balance as of June 30 comma 2016June 30, 2016.

Rockin Rick Music Company

Adjusted Trial Balance

June 30, 2016

Balance

Account Title

Debit

Credit

Cash

$4,500

Accounts Receivable

39,500

Merchandise Inventory

17,500

Office Supplies

400

Furniture

40,000

Accumulated DepreciationFurniture

$9,000

Accounts Payable

14,100

Salaries Payable

850

Unearned Revenue

6,600

Notes Payable, long-term

14,500

Common Stock

5,000

Retained Earnings

34,250

Dividends

40,500

Sales Revenue

182,000

Sales Returns and Allowances

1,500

Sales Discounts

5,500

Cost of Goods Sold

81,900

Selling Expense

18,600

Administrative Expense

15,000

Interest Expense

1,400

Total

$266,300

$266,300

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