Post-closing trial balance

  The following financial statements are provided from the prior accounting period for J & L Accounting, Inc.: Post-closing trial balance Balance sheet Income statement Statement of retained earnings J & L Accounting, Inc. Post-Closing Trial Balance December 31, 2017     Balance   Account Title   Debit   Credit   Cash, Business Checking   $20,500.00     Accounts Receivable       Prepaid Rent       Vehicles   48,000.00     Accumulated Depreciation, Vehicles     $12,000.00   Equipment   3,600.00     Accumulated Depreciation, Equipment     600.00   Accounts Payable       Common Stock     38,000.00   Retained Earnings     21,500.00   Dividends       Service Revenue       Advertising Expense       Rent Expense       Office Supplies Expense       Telephone Expense       Utilities Expense       Depreciation Expense       Totals   $72,100.00   $72,100.00   J & L Accounting, Inc. Balance Sheet As of December 31, 2017   Assets       Cash, Business Checking     $20,500.00   Accounts Receivable     0.00   Prepaid Rent     0.00   Vehicles   $48,000.00     Less: Accumulated Depreciation, Vehicles   12,000.00   36,000.00   Equipment   3,600.00     Less: Accumulated Depreciation, Equipment   600.00   3,000.00   Total Assets     $59,500.00