At April 1, 2020, Spiderland Company reported a balance of $20,000 in the Owner's Capital account. Spiderland Company earned revenues of $50,000 and incurred expenses of $32,000 during April 2020. The company had owner drawings of $10,000 during the month.

Prepare the entries to close Income Summary andthe Owner's Drawings account at April 30, 2020.(Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Brief Exercise 175 a-b At April 1, 2020, Spiderland Company reported a balance of $20,000 in the Owner's Capital account. Spiderland Company earned revenues of $50,000 and incurred expenses of $32,000 during April 2020. The company had owner drawings of $10,000 during the month. Prepare the entries to close Income Summary and the Owner's Drawings account at April 30, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Ties and Explanation Debit Credit l ll ll l (To close net income to owner's capital.) Apr-\"l ll ll l egg (To close owner's drawings to owner's capital.) 'VLINKTO TEXTV' What is the balance in Owner's Capital on the April 30, 2020 post-closing trial balance? Balance in Owner's Capital $|:]