At June 30, account balances after adjustments for Alpha Cinema are as follows:

AccountsAccount Balances

Cash$31,000

Supplies4,000

Equipment50,000

Accumulated DepreciationEquipment13,000

Accounts Payable10,000

Owner's, Capital20,000

Owner's, Drawings10,000

Sales Revenue105,000

Service Revenue53,000

Advertising Expense25,000

Supplies Expense19,000

Depreciation Expense5,000

Rent Expense25,000

Salaries and Wages Expense27,000

Utilities Expense5,000

Instructions

In doing theclosing journal entries for Alpha Cinema for the year ended June 30. What would be the:

1.Balance in Income Summary to be transferred to Owner's Capital

2. Balance in Owner's Capital (after the transfer from Income Summary and Drawings)