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answer please 1:52 Improv Club (IC) features entertaining improvisational theatre performances. The theatre features a range of shows and talented performers. IC prepares financial statements
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1:52 Improv Club (IC) features entertaining improvisational theatre performances. The theatre features a range of shows and talented performers. IC prepares financial statements on an annual basis. The following year- end accounts as of December 31, 2020 are listed in alphabetical order and have normal balances. Accumulated depreciation, equipment $13,325 Cash 52,500 Depreciation expense, equipment 4,130 Equipment 47,300 Insurance expense Nick Stilz, capital 3,240 106,900 32,250 Nick Stilz, withdrawals Prepaid insurance Rent expense 6,980 63,500 Salaries expense Supplies 43,500 2,900 Supplies expense 6,400 Ticket revenue 137,475 Unearned revenue 5,000 Required: 1-0. Prepare an adjusted trial balance as at December 31, 2020. IMPROV CLUB Adjusted Trial Balance December 31, 2020 Pradie nahik Required: 1-a. Prepare an adjusted trial balance as at December 31, 2020. IMPROV CLUB Adjusted Trial Balance December 31, 2020 Credit Totals Account Debit 1-b. Will Nick Stilz's capital account of $106,900 appear on the balance sheet as at December 31, 2020? O Yes O No 2. Prepare the closing entries for the company. View transaction list Journal entry worksheet 2 3 4 Record to close the revenue account to the income summary. Note: Enter debits before credits Date General Journal December 31, 2020 Debit Credit 3. What is the ending balance of Nick Stilz's capital account as at December 31, 2020? Nick Stilz's capital account Step by Step Solution
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