Summary account would appear as a result of the closing process. Identify what each posting represents,

After adjustment, these selected account balances of Cold Stream Campground are:
In T-account format, show how journal entries to close the books for the period would be posted.
(You do not need to show the closing journal entries.) Enter these balances in the accounts before doing so. Key the postings from the first closing entry with the number (1), the second with the number (2), and so on.

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Debits Credits Retained Earnings $540,000 Rental Revenue 960,000 Salaries Expense $336,000 Depreciated Expense-Buildings 64,000 Utilities Expense 208,000 Dividends 32,000