The Adjusted Trial Balance of the Waterstone Company Follows

Essay

The adjusted trial balance of the Waterstone Company follows:
$\begin{array}{c} \text { Waterstone Company}\\ \text { Adjusted Trial Balance}\\ \text { December 31}\\ \begin{array}{r|r|c|l} & \text { Debit } & \text { Credit } \\\hline \text { Cash } & 8,000 & \\\hline \text { Erepaid insurance } & 2,400 & \\\hline \text { Equipment } & 18,000 &\end{array}\end{array}$

$\begin{array}{r|c|c}\hline \text { Accumulated depreciation-Equipment } & & 3,600 \\\hline \text { Salaries payable } & & 2,000 \\\hline \text { Unearned repar fees } & & 1,200 \\\hline \text { T. Waterstone, Capital } & & 11,400\\\hline \text { T. Waterstone, Withdrawals } & 4,000 & \\\hline \text { Repair fees earned } & & 27,500 \\\hline \text { Salaries expense } & 10,000 & \\\hline \text { Depreciation expense } & 1,800 & \\\hline \text { Insurance expense } & 1,500 & \\\hline \text { Totals } & 45,700 & 45,700\\\hline \end{array}$ Prepare the closing entries for Waterstone Company.