St. Thomas Yacht Services, Inc. had the following transactions during its first month of operations:

Dec 2	Borrowed $55,000 from First Bank after signing a 10 year, 5% promissory note.  Payments are due on the last day of the month.
Dec 4	Journalized the issuance of $65,000 of $1 par value common stock at par.
Dec 7	Signed lease and paid the landlord $1,000 rent for the first month.
Dec 8	Purchased $13,000 of office furniture on account.
Dec 9	Created marketing materials, including a logo.
Dec 12	Purchased a one year insurance policy for $2,400.
Dec 15	Purchased $1,300 of cleaning supplies on account.
Dec 17	Hired 5 employees, who will be paid $9 per hour.
Dec 18	Paid $345 to have marketing materials printed.
Dec 22	Three employees were sent to distribute marketing materials along Pier 8.
Dec 23	Detailed 8 sailboats competing in the Maxi Yacht Rolex Cup this March. The bookkeeper sent an invoice for $12,000.
Dec 25	Received $3,000 in deposits to clean two 63 foot yachts.
Dec 26	Sent two employees to clean Serendipity, a 56 foot sloop. They spent 3 hours on the job.
Dec 29	Paid $54 to employees who cleaned Serendipity and $81 to employees who distributed marketing materials. (Ignore payroll taxes for this problem).
Dec 30	Sent a $2,100 invoice to Serendipity's Captain Samantha, less the $900 deposit.
Dec 31	Paid First Bank $583 representing $229 in interest plus $354 toward the principal.

 

On December 31, the following adjustments must be made:

• The furniture, which has no salvage value and a 5 year useful life, needs to be depreciated using straight-line depreciation. 
• A physical count shows only $900  of supplies remains in the storage closet.
• One month of the 1-year insurance policy has been used.
• The Board of Directors did not declare dividends in January.

Complete Step 11 of the Accounting Cycle: Prepare a Post-closing Trial Balance.

St. Thomas Yacht Services
Post-closing Trial Balance
December 31, 2012

Accounts	Debits	Credits
Total	Single lineDouble line	Single lineDouble line