BUAD 111 Chapter 4 Quiz Name: Cr. Use the following adjusted trial balance for both questions: T. Ball Company Adjusted Trial Balance Dr. Cash 13 Accounts receivable 8 Supplies 7 Equipment 10 Accum. Dep. Equipment Accounts payable Long term debt payable 1. Ball, capital 1. Ball, drawings Service revenue Rent expense 6 Supplies expense 2 Totals So 3 6 2 24 4 15 50 1. Prepare the closing entries: General Journal Date Account Titles & Explanation 1 Service Revenue Income summary To close service revenue account PR Debit Page 1 Credit 15 15 Secessibility,mediate W Total expenses 7 Net income(15-8) 2b - Prepare a statement of changes in equity Statement of Changes in Equity at