From the Following Accounts,prepare in Proper Form a Post-Closing Trial

question 32

Essay

From the following accounts,prepare in proper form a post-closing trial balance for Matison Company on December 31.
$$\begin{array} { l l } \text { Accounts Receivable } & \$ 4,600 \\\text { Accounts Payable } & 1,290 \\\text { Cash } & 6,450 \\\text { Salaries Payable } & 1,660 \\\text { Supplies } & 500 \\\text { Prepaid Inurance } & 1,200 \\\text { Matioon, Capital } & 9,800\end{array}$$

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Definitions:

Great Depression

A severe worldwide economic depression that took place mostly during the 1930s, starting in the United States.

John Maynard Keynes

A British economist whose ideas fundamentally changed the theory and practice of macroeconomics and economic policies of governments.

Classical Economists

Early economists, such as Adam Smith and David Ricardo, who focused on the role of free markets in promoting economic growth and efficiency.

Recession

A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in successive quarters.