Chapter Jumalize the closing entries for Masch, 2004. Jumal try description 'quired. The ja Closing entries are dated the last day of the month You should have formal aries. No more so Consider posting the accounts to keep track of your b 1 Answer the following questi What is the ending balance in Capital after doing? On what financial state) does she ending balance in Capital What is the ending balance in Sir Fear dosing On what financial statement does the amount of Server Fem the month appear? What is the ament of net income for net lone) for them? E: What is the ending balance in Summary her doing? What is the formula to calculate the book valar of a long-term h. What is the amount of the book value of the truck? On which financial statement does the book value appear? Chapt Accounts Receivable Cash 1500 Bl700 Truck 30,000 Accumulated Depreciation Supplies B120 Truck Accounts Payable 12.000 Bal 400 K. Rashad, Capital Rashad Drawing Income Summary Bal 19,585 Bal375 Service Fees Cell Phone Expense Bal. 2,875 BL80 Gas and Oil Expense Bal. 95 Depreciation Expense-Truck Bal300 Insurance Expense Miscellaneous Expense BL60 B25 Rent Expense Supplies Expense Utilities Expense Bal. 325 Bal. 250 bal. 140 Wages Expense Bal. 790 Chapter & How 3 Closing Journal Date Obit Owl oblem 3 Chapter 6 Homework Handout The T-accounts on the next page show general ledger balances after adjustments, but before closing, for March 31, 2019. Use the information in the T accounts to do the following 1. Journalize the closing entries for March, 2019. Journal entry descriptions aren't required. The journal entry tab is labeled "P3Journal." Tips: Closing entries are dated the last day of the month. You should have four journal entries. No more, no less. Consider posting to the t-accounts to keep track of your balances. 2. Answer the following questions: a. What is the ending balance in Capital after closing? b. On what financial statement(s) does the ending balance in Capital appear? c. What is the ending balance in Service Fees after closing? d. On what financial statement(s) does the amount of Service Fees for the month appear? e. What is the amount of net income (or net loss) for the month? f. What is the ending balance in Income Summary after closing? g. What is the formula to calculate the book value of a long-term asset? h. What is the amount of the book value of the truck? i. On which financial statement does the book value appear? Bal. 1,500 Chapter 6 Homework Handout Accounts Receivable Cash Bal. 700 Bal. 30,000 Truck Accumulated Depreciation- Truck Bal. 12,000 Mactionn Supplies 6 Bal. 120 Accounts Payable 9 Bal. 400 L K. Rashad, Capital K. Rashad, Drawing Income Summary Bal. 19,585 Bal. 375 Depreciation Expense - Truck Service Fees Cell Phone Expense Bal. 2,875 Bal. 80 Bal. 300 Gas and Oil Expense Bal. 95 Insurance Expense Miscellaneous Expense Bal. 60 Bal. 25 Rent Expense Supplies Expense Utilities Expense Bal. 325 Bal. 250 Bal. 140 Wages Expense Bal. 790) - mand Op Ast 110 Problem 3 Closing Journal Entries Chapter 6 Homework Handout Date Accounts Debit Credit K