Complete the general journal and ledger (closing entries)

**questions mentioned in first photo (Instructions for closing entries)

Closing entries In this stage of the accounting cycle, you are asked to record closing entries in the general journal and then post them to the general ledger accounts. This step must be completed to prepare the accounts for the next accounting period. Instructions for closing entries 1) Record closing entries in the general journal. 2) Post the closing entries from the general journal to the relevant general ledger accounts 3) Record the final closing balance of each ledger account in the Post-Closing Balance row of each ledger, even for ledgers with a balance of zero. Although each ledger already has a running balance, the Post-Closing Balance row must still be filled out in order receive full points. Back-On-Track functionality Please note that any answers from previous pages carried through onto this page (either on the page or in a popup information page) have been reset, if necessary, to the correct answers. Your particular answers from previous pages are no longer shown. Remember: Enter all answers to the nearest whole dollar. You are also required to apply the journal and ledger instructions provided in previous stages of the practice set. Before pressing the Submit answers button, we recommend that you click the Show All tab and check that all relevant accounting records have been completed. GENERAL JOURNAL Date Account and Explanation Post Ref. Debit Credit Jun 30 Income Summary (select) (select) (select) (select) (select) (select) (select) (Closing entry to debit the Income Summary account) Jun 30 (select) select) select) select) select) select) select) Income Summary (Closing entry to credit the Income Summary account) GENERAL LEDGER Account: Capital Account No. 300 Date Ref. Debit Credit Balance Jun Description 1 Capital contributed by Mark Ginzburg 30 GJ 98,000 98,000 CR Jun Jun 30 Jun 30 000 Jun 30 Post-Closing Balance Account: Withdrawals Account No. 350 Debit Credit Date Jun Description 21 Cash withdrawal by Mark Ginzburg Ref. GJ Balance 1,000 DR 1,000 Jun 30 Jun 30 Jun 30 000 Jun 30 Post-Closing Balance Account: Revenues Account No. 400 Date Ref. Debit Credit Balance Jun GJ 3,700 6,900 Jun GJ Jun Description 4 Received cash for services 9 Services provided on credit 26 Received cash for services 27 Services provided on credit 30 Accrued revenue 30 Revenue earned GJ 3,700 CR 10,600 CR 13,300 CR 21,200 CR 23,800 CR 28,000 CR Jun 2,700 7,900 2,600 4,200 GJ GJ Jun Jun GJ Jun 30 Jun 30 0 000 Jun 30 Jun 30 Post-Closing Balance Account: Wages Expense Account No. 516 Ref. Debit Credit Balance GJ Date Description Jun 16 Paid staff wages Jun 30 Accrued wages expense Jun 30 6,400 9,000 6,400 DR 15,400 DR GJ Jun 30 Jun 30 i dla Jun 30 Post-Closing Balance Account: Telephone Expense Account No. 541 Date Ref. Debit Credit Balance Jun Description 3 Paid telephone expense 30 Accrued telephone expense GJ 170 170 DR Jun GJ 100 270 DR Jun 30 Jun 30 Jun 30 000 Jun 30 Post-Closing Balance Account: Rent Expense Account No. 543 Ref. Debit Credit Date Jun Description 30 Rent expired Balance 3,080 DR GJ 3,080 Jun 30 Jun 30 Jun 30 Jun 30 Post-Closing Balance Account: Interest Expense Account No. 571 Ref. Debit Credit Balance Date Jun Description 30 Accrued interest expense GJ 990 990 DR Jun 30 Jun 30 Jun 30 Jun 30 Post-Closing Balance ICandy Balance Sheet June 30, 2021 $ $ $ GA Assets Current assets Cash Accounts Receivable Office Supplies Prepaid Rent Total current assets 238,990 13,900 770 6,160 259,820 Property, plant and equipment Candy Making Equipment Accum Depn: Candy Making Equipment Total property, plant and equipment Total assets 56,000 (450) 55,550 315,370 Liabilities Current liabilities Accounts Payable Wages Payable Telephone Payable Interest Payable Unearned Revenue Total current liabilities 1,100 9,000 100 990 2,800 13,990 Long-term liabilities Bank Loan Payable Total liabilities 198,000 211,990 Equity Capital Total liabilities and equity 103,380 315,370