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Evolution Company's partial worksheet for the month ended December 31, 20X1, is shown below. Open the owner's capital account (account number 301) in the general
Evolution Company's partial worksheet for the month ended December 31, 20X1, is shown below. Open the owner's capital account (account number 301) in the general ledger and record the December 1, 20X1, balance of $71,000 shown on the worksheet. Account Name Income Statement Balance Sheet Debit Credit Debit Credit Cash 20,500 Accounts receivable 23,400 Supplies 9,700 Equipment 63,500 Accumulated depreciationEquipment 21,400 Accounts payable 19,700 M. Aaron, Capital 71,000 M. Aaron, Drawing 6,700 Fees income 50,200 Salaries expense 28,200 Security expense 3,500 Supplies expense 1,750 Depreciation expenseEquipment 5,050 Totals 38,500 50,200 123,800 112,100 Net income 11,700 11,700 50,200 50,200 123,800 123,800 Prepare the closing entries for the Evolution Company on December 31, 20X1. Post the closing entries to the owner's capital account. Prepare a post-closing trial balance
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