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23 May, 02:45

The year-end adjusted trial balance of Hilltoppers Corporation included the following account balances: Cash, $3,600; Equipment, $15,600; Accounts Payable, $1,600; Common Stock, $12,000; Retained Earnings, $4,400; Dividends, $1,200; Service Revenue, $14,600; Salaries Expense, $9,600; and Utilities Expense, $2,600. Prepare the post-closing trail balance.

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  1. 23 May, 03:35
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    The preparation of the post-closing trial balance is presented below:

    Hilltoppers Corporation

    Post-closing trial balance

    Particulars Debit Credit

    Service revenue $14,600

    Cash $3,600

    Accounts Payable $1,600

    Utilities expense $2,600

    Salaries expense $9,600

    Equipment $15,600

    Common stock $12,000

    Retained earnings $4,400

    Dividend $1,200

    Total $32,600 $32,600
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