1. Journalize (page 10) and post the adjusting entries. 2. Journalize (page 11) and post the closing entries.

GENERAL JOURNAL				PAGE 10
DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
Adjusting Entries
20--
Jan. 31
Jan. 31
Jan. 31
Jan. 31

GENERAL JOURNAL				PAGE 11
DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
Closing Entries
20--
Jan. 31
Jan. 31
Jan. 31
Jan. 31

ACCOUNT	Income Summary				ACCOUNT NO.	313
					BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
20--
Jan. 31
Jan. 31
Jan. 31

ACCOUNT	Repair Fees				ACCOUNT NO.	401
					BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
20--
Jan. 31	Balance					5,000.00
Jan. 31

ACCOUNT	Wages Expense				ACCOUNT NO.	511
					BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
20--
Jan. 31	Balance				2,170.00
Jan. 31
Jan. 31

ACCOUNT	Advertising Expense				ACCOUNT NO.	512
					BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
20--
Jan. 31	Balance				100.00
Jan. 31

ACCOUNT	Rent Expense				ACCOUNT NO.	521
					BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
20--
Jan. 31	Balance				630.00
Jan. 31

ACCOUNT	Supplies Expense				ACCOUNT NO.	523
					BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
20--
Jan. 31
Jan. 31

ACCOUNT	Phone Expense				ACCOUNT NO.	525
					BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
20--
Jan. 31	Balance				45.00
Jan. 31

ACCOUNT	Insurance Expense				ACCOUNT NO.	535
					BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
20--
Jan. 31
Jan. 31

ACCOUNT	Gas and Oil Expense				ACCOUNT NO.	538
					BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
20--
Jan. 31	Balance				210.00
Jan. 31

ACCOUNT	Depreciation ExpenseDelivery Equipment				ACCOUNT NO.	541
					BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
20--
Jan. 31
Jan. 31

A work sheet for Megaffin's Repairs for the month ended January 31, 20-- is shown. Megaffin's Repairs Work Sheet For Month Ended January 31, 20-- Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 3,755.00 3,755.00 1,460.00 3,755.00 1,460.00 1,460.00 110.00 400.00 290.00 110.00 900.00 220.00 680.00 680.00 3,150.00 3,150.00 3,150.00 60.00 60.00 60.00 1,200.00 1,200.00 1,200.00 400.00 400.00 400.00 7,653.00 7,653.00 7,653.00 1,000.00 1,000.00 1,000.00 Accounts Receivable Supplies Prepaid Insurance Delivery Equipment Accumulated Depreciation-Delivery Equipment Accounts Payable Wages Payable Don Megaffin, Capital Don Megaffin, Drawing Repair Fees Wages Expense Advertising Expense Rent Expense Supplies Expense Phone Expense Insurance Expense Gas and Oil Expense Depreciation Expense-Delivery Equipment Miscellaneous Expense 5,000.00 5,000.00 5,000.00 2,170.00 400.00 2,570.00 2,570.00 100.00 100.00 100.00 630.00 630.00 630.00 290.00 290.00 290.00 45.00 45.00 45.00 220.00 220.00 220.00 210.00 210.00 210.00 60.00 60.00 60.00 33.00 33.00 33.00 13,853.00 13,853.00 970.00 970.00 14,313.00 14,313.00 4,158.00 5,000.00 10,155.00 9,313.00 Net Income 842.00 842.00 5,000.00 5,000.00 10,155.00 10,155.00 GENERAL LEDGER ACCOUNT Cash ACCOUNT NO. 101 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 Balance 7 3,755.00 ACCOUNT Accounts Receivable ACCOUNT NO. 122 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 Balance 1,460.00 ACCOUNT Supplies ACCOUNT NO. 141 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 Balance 400.00 Jan. 31 ACCOUNT Prepaid Insurance ACCOUNT NO. 145 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 Balance 900.00 Jan. 31 ACCOUNT Delivery Equipment ACCOUNT NO. 185 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 Balance 3,150.00 ACCOUNT Accumulated Depreciation-Delivery Equipment ACCOUNT NO. 185.1 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 ACCOUNT Accounts Payable ACCOUNT NO. 202 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 Balance 1,200.00 ACCOUNT Wages Payable ACCOUNT NO. 219 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 ACCOUNT Don Megaffin, Capital ACCOUNT NO. 311 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 Balance 7,653.00 Jan. 31 Jan. 31 ACCOUNT Don Megaffin, Drawing ACCOUNT NO. 312 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 Balance 1,000.00 Jan. 31 ACCOUNT Miscellaneous Expense 549 ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 Balance 33.00 Jan. 31 3. Prepare a post-closing trial balance. Megaffin's Repairs Post-Closing Trial Balance January 31, 20-- Account Acct. No. Debit Balance Credit Balance Cash 101 Accounts Receivable 122 Supplies 141 Prepaid Insurance 145 Delivery Equipment 185 Accumulated Depreciation-Delivery Equipment 185.1 Accounts Payable 202 Wages Payable 219 Don Megaffin, Capital 311