Closing Entries and Post-Closing That Balance Aksheet for Mega Mapain is shown below. No aditional intents are made by the owner Coming the month Income statement Balance Sheet We heat For Honth Ended Manuary 1, 20 Adjuste Adjusted Tralalance Debi Cred De Conde 3.63 3.673 1.450 1.450 Account Tale Credit Debit 2.673 1.450 00 300 400 400 Arun Race Suco Prepaid Insurance Divery Kopen Acumulat Depreciation Delivery Equipment 620 300 3.300 670 2.300 3.200 35 33 1.200 55 1.200 400 1.000 400 Wages Payable Don Mesa Capital Den Megalo 1.200 400 1.000 3.000 1100 1.100 1.100 4700 4.700 4.700 1.750 400 2.150 200 2.150 200 200 40 640 140 300 300 300 Woes Espen Advertising Epe Rent Expo lvpple Expert Phone Inunca pense On and of Depreciation Delivery Muse 39 50 230 330 230 200 200 200 55 55 55 37 27 2.09 13.900 13.00 14.355 14.355 4.700 10.490 2655 Net Income 4.700 4.700 10.45 10.493 1. Journalize the adjusting entries. If an amount box does not require an entry leave it blank. Do not enter the posting references until you complete part 3. GENERAL JOURNAL DESCRIPTION POST. REF. Adjusting Entries PAGE 10 CREDIT DATE DEBIT 20- en 31 Supplies Supplies Expense Supplies used Jan. 3i Insurance Expense Insurance used Wages Expanse Jan. 31 Wages accrued Delivery Equipment Jan. 31 Depreciation 2. Journalize the closing entries. If an amount box does not require an entry, leave it blank. Do not enter the posting references until you complete pa GENERAL JOURNAL PAGE 11 DATE DESCRIPTION POST. REF. DEBIT CREDIT Closing Entries 20- Jan. 31 Jan. 31 Jan. 31 Jan. 31 Megaffin's Repairs Chart of Accounts Assets Revenues 101 Cash 401 Repair Fees 122 Accounts Receivable 141 Supplies Expenses 145 Prepaid Insurance 511 Wages Expense 185 Delivery Equipment 512 Advertising Expense 185.1 Accum. Depr.--Delivery Equip. 521 Rent Expense 523 Supplies Expense Liabilities 525 Phone Expense 202 Accounts Payable 535 Insurance Expense 219 Wages Payable 538 Gas and Oil Expense 541 Dept. Exp-Delivery Equip, Owner's Equity 549 Miscellaneous Expense 311 Don Megaffin, Capital 312 Don Megaffin, Drawing 313 Income Summary GENERAL LEDGER ACCOUNT Cash ACCOUNT NO. 101 BALANCE DEBIT DATE ITEM POST. REF DEBIT CREDIT CREDIT 20- Jan. 31 Balance 3,673 ACCOUNT Accounts Receivable 122 ACCOUNT NO. BALANCE DEBIT DATE ITEM POST. REF. DEBIT CREDIT CREDIT 20- Jan. 31 Balance 1.450 ACCOUNT Supplies ACCOUNT NO. 141 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 120- Jan. 31 Balance 700 Jan. 31 Adjusting 310 ACCOUNT Prepaid Insurance 145 ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20- Jan. 31 Balance 900 Jan. 31 Adjusting J10 ACCOUNT Delivery Equipment 185 ACCOUNT NO. BALANCE DEBIT DATE ITEM POST. REF. DEBIT CREDIT CREDIT 20- Jan. 31 Balance ACCOUNT Accumulated Depreciation --Delivery Equipment ACCOUNT NO. 185.1 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20- Jan. 31 Adjusting 310 ACCOUNT Accounts Payable 202 ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20- Jan. 31 Balance 1.200 219 ACCOUNT NO. ACCOUNT Wages Payable BALANCE DEBIT CREDIT DEBIT CREDIT POST. REF. DATE ITEM 20- Adjusting Jan. 31 J10 ACCOUNT 311 Don Megaffin, Capital ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20- Jan. 31 Balance V 8,000 Jan. 31 Adjusting J11 Jan. 31 Adjusting 311 ACCOUNT Don Megaffin, Drawing 312 ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20- Jan. 31 Balance 1,100 Jan. 31 Adjusting 311 ACCOUNT Income Summary ACCOUNT NO. 313 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20- Jan. 31 closing Jan. 31 Closing J11 Jan. 31 Closing 311 ACCOUNT Repair Fees ACCOUNT NO. 401 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20- Jan. 31 Balance 4.700 Jan. 31 Adjusting J11 ACCOUNT Wages Expense ACCOUNT NO. 511 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20- Jan. 31 Balance 1.750 Jan. 31 Adjusting 310 Jan. 31 Adjusting 311 ACCOUNT Advertising Expense 512 ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20- Jan. 31 Balance 200 Jan. 31 Adjusting 311 ACCOUNT Rent Expense 521 ACCOUNT NO. BALANCE ITEM POST. REF: DEBIT CREDIT DEBIT CREDIT DATE 20- Jan. 31 Balance V 640 Jan. 31 Adjusting 311 ACCOUNT 523 Supplies Expense ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 Adjusting 310 Jan. 31 311 ACCOUNT Phone Expense 525 ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20- Jan. 31 Balance 50 Jan. 31 Adjusting 311 ACCOUNT Insurance Expense ACCOUNT NO. BALANCE DEBIT CREDIT DATE ITEM POST. REF. DEBIT CREDIT 20- Dan. 33 310 Jan. 31 311 ACCOUNT Gas and Oil Expense ACCOUNT NO. 538 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 Balance 200 Jan. 31 311 ACCOUNT 541 Depreciation Expense-Delivery Equipment ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20- Jan. 31 310 Jan. 31 311 ACCOUNT Miscellaneous Expense 549 ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20- Jan. 31 Balance 37 [Jan. 31 311 4. Prepare a post-closing trial balance. Megaffin's Repairs Post-Closing Trial Balance January 31, 20 Account Acct. No. Debit Balance Credit Balance