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Below are the adjusted balances in the ledger of Good Landscape Services as of January 31, 2020: Cash $ 26,750 Dalton Good, Capital $49,700 Supplies
Below are the adjusted balances in the ledger of Good Landscape Services as of January 31, 2020: Cash $ 26,750 Dalton Good, Capital $49,700 Supplies 3,900 Dalton Good, Drawing 3,425 Prepaid Insurance 8,400 Service Revenue 56,300 Equipment 42,800 Salary Expense 24,300 Accumulated depreciation 9,950 Rent Expense 6,000 salary payable 1.125 Miscellaneous Expense 1,500 Required: a. Journalize the closing entries to close the necessary accounts at the end of the accounting period. (9 pts) b. Show the calculation of Dalton Good capital at year-end in the capital account (4 pts) c. Prepare a post-closing trial balance. (7 pts)
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