2 Required 1A Required 1B Required 10 Required 2 Required 3 Prepare a classified balance sheet at December 31, 2017. 1.5 points KARISE REPAIRS Balance Sheet December 31, 2017 Assets Current assets Cash Is Office supplies Prepaid Insurance Equipment Accumulated depreciation Equipment Total assets 74,000 1,500 2,750 55,000 $ (5,500) $ 127,750 0 Liabilities Current liabilities Accounts payable Wages payable $ OS 12,500 1,200 13,700 Required 1B Required 2 > Required 1A Required 1B Required 10 Required 2 Required 3 Complete the work sheet using the adjusted trial balance in the first two columns of a six-column table. Use columns three and four fo Information and the last two columns for a post-closing trial balance. No. Account Title 101 $ Post-Closing Trial Balance Dr. Cr. 74,000 1,500 2,750 55,000 124 128 167 KARISE REPAIRS Partial Work Sheet For Year Ended December 31, 2017 Adjusted Closing Trial Balance Entry Information Dr. Cr. Dr. Cr. 74,000 s 74,000 3 s 1,500 1,500 2,750 2,750 55,000 55,000 $ 5,500 5,500 X 12,500 12,500 1,200 1.2003 36,000 36.000 15,000 15,000 157,450 5,500 37.000 600 168 5,500 201 210 301 302 401 Cash Office supplies Prepaid insurance Equipment Accumulated depreciation- Equipment Accounts payable Wages payable C. Karise, Capital C. Karise, Withdrawals Repair fees eamed Depreciation expense-Equipment Wages expense Insurance expense Rent expense Office supplies expense Utilities expense Income summary 12,500 1,200 114,050 612 623 637 640 650 690 14,000 3,500 3,800 901 Total $ 212,650 $ 212,650 $ 148,250 $ 55,200 $ 133,250 $ 133,250 Required 1A Required 1B Required 10 Required 2 Required 3 Using information from the work sheet in Requirement 2, prepare the appropriate closing entries. View transaction list Journal entry worksheet 1 2 3 4 Record the entry to close revenue account(s). Note: Enter debits before credits. Debit General Journal Date Credit Dec 31 Record entry Clear entry View general Journal Required 1A Required 1B Required 1C Required 2 Required 3 Using information from the work sheet in Requirement 2, prepare the appropriate closing entries. View transaction list Journal entry worksheet Record the entry to close income summary. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general Journal Using information from the work sheet in Requirement 2, prepare the appropriate closing entries. View transaction list Journal entry worksheet 1 2 3 4 Record the entry to close the withdrawals account. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general Journal