Dorsey Companys partial worksheet for the month ended March 31, 2019, is shown below. Open the owners capital account (account number 301) in the general ledger and record the March 1, 2019, balance of $32,500 shown on the worksheet.

INCOME STATEMENT

BALANCE SHEET

ACCOUNT NAME

DEBIT

CREDIT

DEBIT

CREDIT

Cash

8,600

Accounts Receivable

11,200

Supplies

4,550

Equipment

30,500

Accum. Depr. - Equip.

10,200

Accounts Payable

9,600

N. Dorsey, Capital

32,500

N. Dorsey, Drawing

3,100

Fees Income

23,400

Salaries Expense

13,500

Rent Expense

1,450

Supplies Expense

750

Depr. Exp. Equip.

2,050

Totals

17,750

23,400

57,950

52,300

Net Income	5,650						5,650
	23,400		23,400		57,950		57,950

Prepare a journal entries for the Dorsey Companys on March 31, 2019. Post the closing entries to the owners capital account. Prepare a postclosing trial balance.

Complete this question by entering your answers in the tabs below.

• General Journal
• General Ledger
• Trial Balance