1. Using the following Balance Sheet summary information, for the two years presented calculate the working capital for 2018 and 2019 respectively:

Group of answer choices

A) $33,650, $32,350

B) $67,950, $64,550

C) $4,250, $850

D) $101,600, $97,350

2. Using the information from question 1, calculate the current ratio for 2018 and 2019 respectively:

Group of answer choices

A) 3.02, 2.97

B) 1.04, 1.02

C) .33, .34

D) 3.20, 2.79

3. Use the following Adjusted Trial Balance to prepare the four journal entries required to close the books:

4. Use the following T-accounts to prepare the four journal entries required to close the books:

Group of answer choices

5. Correct any obvious errors in the following closing entries by providing the four corrected closing entries. Assume all accounts held normal account balances in the Adjusted Trial Balance.

Group of answer choices

comow RUUSEU Hal De LIIS Credit Adjusted Trial Balance Debit $22,900 4,000 44,000 $40,000 25.000 48 350 Cash Prepaid Insurance Fixed Assets Notes Payable Common Stock Retained Earnings Dividends Sales Revenue Automobile Expense Insurance Expense Salaries Expense Supplies Expense 22,000 150,000 26,500 20,000 122,400 1,450 $263,350 $263,350 0 150,000 Sales Revenue Income Summary 150,000 Automobile Expense Insurance Expense Salaries Expense Supplies Expense Income Summary 26,500 20,000 122.500 1.450 170,450 20,450 Retained Earnings Income Summary 20,450 22,000 Retained Earnings Dividends 22,000 a Income Summary Sales Revenue 150,000 150,000 Automobile Expense Insurance Expense Salaries Expense Supplies Expense Income Summary 26,500 20,000 122,500 1,450 170,450 20,450 Retained Earnings Income Summary 20,450 22,000 Retained Earnings Dividends 22,000 150,000 Sales Revenue Income Summary 150,000 170,450 Income Summary Automobile Expense Insurance Expense Salaries Expense Supplies Expense 26,500 20,000 122,000 1,450 Retained Earnings Income Summary 20,450 20,450 Retained Earnings Dividends 22,000 22,000 O Sales Revenue Income Summary 150,000 150.000 Automobile Expense Insurance Expense Salaries Expense Supplies Expense Income Summary 26,500 20,000 122,500 1,450 170,450 20,450 Income Summary Retained Earnings 20,450 22,000 Dividends Retained Earnings 22,000 Debit Credit Accounts Receivable Bal. 45,500 Fees Earned Revenue Bal. 60.000 Commission Expense Bal. 7,200 Supplies Expense Bal.5.500 Wages Expense Bal. 42,000 Dividends Bal. 3.500 Retained Earnings Bal. 51,00 60,000 Fees Earned Revenue Income Summary 60,000 54.700 Income Summary Commission Expense Supplies Expense Wages Expense 7,200 5,500 42,000 Income Summary Retained Earnings 5,300 5,300 3,500 Retained Earnings Dividends 3,500 60.000 Fees Earned Revenue Income Summary 60.000 54,700 Income Summary Commission Expense Supplies Expense Wages Expense 7,200 5,500 42.000 Retained Earnings Income Summary 5,300 5,300 Retained Earnings Dividends 3,500 3.500 0 60,000 Fees Earned Revenue Income Summary 60,000 Commission Expense Supplies Expense Wages Expense Income Summary 7,200 5,500 42,000 54,700 Income Summary Retained Earnings 5,300 5,300 Retained Earnings Dividends 3,500 3,500 0 60,000 Fees Earned Revenue Income Summary 60.000 54,700 Income Summary Commission Expense Supplies Expense Wages Expense 7,200 5,500 42,000 5,300 Income Summary Retained Earnings 5,300 3,500 Dividends Retained Earnings 3,500 Income Summary Service Revenue $280,000 $280,000 $16,500 24,000 190,000 18,500 Automobile Expense Insurance Expense Salaries Expense Supplies Expense Income Summary Income Summary Retained Earnings $249,000 $263,000 $263,500 Retained Earnings Dividends $10,000 $10,000 $280,000 Income Summary Service Revenue $280,000 Automobile Expense Insurance Expense Salaries Expense Supplies Expense Income Summary $16,500 24,000 190,000 18,500 $249,000 Retained Earnings Income Summary $263,000 $263,500 Dividends Retained Earnings $10,000 $10,000 $280,000 Service Revenue Income Summary $280,000 $249,000 Income Summary Automobile Expense Insurance Expense Salaries Expense Supplies Expense Income Summary Retained Earnings $16,500 24,000 190,000 18,500 $263,000 $263,500 Retained Earnings Dividends $10,000 $10,000 $280,000 Income Summary Service Revenue $280,000 Automobile Expense Insurance Expense Salaries Expense Supplies Expense Income Summary $16,500 24,000 190,000 18,500 $249,000 Retained Earnings Income Summary $263,000 $263,500 $10,000 Dividends Retained Earnings $10,000 comow RUUSEU Hal De LIIS Credit Adjusted Trial Balance Debit $22,900 4,000 44,000 $40,000 25.000 48 350 Cash Prepaid Insurance Fixed Assets Notes Payable Common Stock Retained Earnings Dividends Sales Revenue Automobile Expense Insurance Expense Salaries Expense Supplies Expense 22,000 150,000 26,500 20,000 122,400 1,450 $263,350 $263,350 0 150,000 Sales Revenue Income Summary 150,000 Automobile Expense Insurance Expense Salaries Expense Supplies Expense Income Summary 26,500 20,000 122.500 1.450 170,450 20,450 Retained Earnings Income Summary 20,450 22,000 Retained Earnings Dividends 22,000 a Income Summary Sales Revenue 150,000 150,000 Automobile Expense Insurance Expense Salaries Expense Supplies Expense Income Summary 26,500 20,000 122,500 1,450 170,450 20,450 Retained Earnings Income Summary 20,450 22,000 Retained Earnings Dividends 22,000 150,000 Sales Revenue Income Summary 150,000 170,450 Income Summary Automobile Expense Insurance Expense Salaries Expense Supplies Expense 26,500 20,000 122,000 1,450 Retained Earnings Income Summary 20,450 20,450 Retained Earnings Dividends 22,000 22,000 O Sales Revenue Income Summary 150,000 150.000 Automobile Expense Insurance Expense Salaries Expense Supplies Expense Income Summary 26,500 20,000 122,500 1,450 170,450 20,450 Income Summary Retained Earnings 20,450 22,000 Dividends Retained Earnings 22,000 Debit Credit Accounts Receivable Bal. 45,500 Fees Earned Revenue Bal. 60.000 Commission Expense Bal. 7,200 Supplies Expense Bal.5.500 Wages Expense Bal. 42,000 Dividends Bal. 3.500 Retained Earnings Bal. 51,00 60,000 Fees Earned Revenue Income Summary 60,000 54.700 Income Summary Commission Expense Supplies Expense Wages Expense 7,200 5,500 42,000 Income Summary Retained Earnings 5,300 5,300 3,500 Retained Earnings Dividends 3,500 60.000 Fees Earned Revenue Income Summary 60.000 54,700 Income Summary Commission Expense Supplies Expense Wages Expense 7,200 5,500 42.000 Retained Earnings Income Summary 5,300 5,300 Retained Earnings Dividends 3,500 3.500 0 60,000 Fees Earned Revenue Income Summary 60,000 Commission Expense Supplies Expense Wages Expense Income Summary 7,200 5,500 42,000 54,700 Income Summary Retained Earnings 5,300 5,300 Retained Earnings Dividends 3,500 3,500 0 60,000 Fees Earned Revenue Income Summary 60.000 54,700 Income Summary Commission Expense Supplies Expense Wages Expense 7,200 5,500 42,000 5,300 Income Summary Retained Earnings 5,300 3,500 Dividends Retained Earnings 3,500 Income Summary Service Revenue $280,000 $280,000 $16,500 24,000 190,000 18,500 Automobile Expense Insurance Expense Salaries Expense Supplies Expense Income Summary Income Summary Retained Earnings $249,000 $263,000 $263,500 Retained Earnings Dividends $10,000 $10,000 $280,000 Income Summary Service Revenue $280,000 Automobile Expense Insurance Expense Salaries Expense Supplies Expense Income Summary $16,500 24,000 190,000 18,500 $249,000 Retained Earnings Income Summary $263,000 $263,500 Dividends Retained Earnings $10,000 $10,000 $280,000 Service Revenue Income Summary $280,000 $249,000 Income Summary Automobile Expense Insurance Expense Salaries Expense Supplies Expense Income Summary Retained Earnings $16,500 24,000 190,000 18,500 $263,000 $263,500 Retained Earnings Dividends $10,000 $10,000 $280,000 Income Summary Service Revenue $280,000 Automobile Expense Insurance Expense Salaries Expense Supplies Expense Income Summary $16,500 24,000 190,000 18,500 $249,000 Retained Earnings Income Summary $263,000 $263,500 $10,000 Dividends Retained Earnings $10,000