For the year ended December 31, 2020, prepare the Financial Statements, Closing Journal Entries, update the T-Accounts, and prepare the Post-Closing Trial Balance.
M4 Engineering, Inc. Adjusted Trial Balance 12/31/2020
Account Name Debit Credit
Cash 15,000
Accounts Receivable 10,000
Supplies 750
Building 100,000
Accum. Depreciation 15,450
Accounts Payable 5,000
Notes Payable 12,000
Common Stock 25,000
Retained Earnings 17,500
Dividends 3,000
Fees Earned 80,000
Depreciation Expense 2,000
Rent Expense 18,000
Utility Expense 6,200
Totals 154,950 154,950