Below is an alphabetical listing of all of the accounts for T.O.'s Dance Studio on 12/31/14. Assume all adjustments have been made and all balances are "normal".
Account Balance Accounts
Payable 3,500
Accounts Receivable 8,800
Accumulated Depreciation—Equip. 3,100
Contributed Capital 2,300
Cash 3,700
Depreciation Expense 1,300
Dividends Declared 1,100
Equipment 10,700
Income Tax Expense 1,100
Income Taxes Payable1,100
Service Revenue 18,500
Rent Expense 1,500
Retained Earnings (as of 1/1/14) 4,700
Unearned Revenue 1,800
Wages Expense 6,800
a) Prepare closing entries for T.O.’s Dance Studio
b) Prepare the post-closing trial balance for T.O.’s Dance Studio.
c) Prepare the classified balance sheet for T.O.’s Dance Studio. (Amounts to be deducted should be indicated by a minus sign.)