Exercise 4-5

The adjusted trial balance for Pharoah Company is presented below. Also, I want to know how can I calculate the Income Summary part.

Exercise 4-5 The adjusted trial balance for Pharoah Company is presented below. Credit PHAROAH COMPANY Adjusted Trial Balance August 31, 2017 Account Titles Debit Cash $10,300 Accounts receivable 5,200 Equipment 9,400 Accumulated depreciation equipment Accounts payable Unearned revenue S. Strong, capital S. Strong, drawings 11,600 Service revenue Rent revenue Depreciation expense 2,900 Salaries expense 38,300 Utilities expense 9,900 $87,600 $4,800 2,700 900 35,400 37,500 6,300 $87,600 Date Account Titles and Explanation Debit Credit Aug. 31 Service Revenue 37500 Rent Revenue 6300 43800 Income Summary (To close revenue accounts) > Aug. 31 Income Summary 53000 x Depreciation Expense 4800 Salaries Expense 38300 9900 Utilities Expense (To close expense accounts) Aug. 31 s. Strong, Capital 9200 92001 Income Summary (To close income summary) Aug. 31 ]s. Strong, Capital 116000 11600 S. Strong, Drawings (To close drawings account) Income Summary Clos. 51100 Clos. 37500 X Bal. 9200 Bal. S. Strong, Capital 35400 Clos. 11600 Clos. 9200 Bal. 33000 S. Strong, Drawings 11600 Clos. 11600 Bal. Service Revenue Clos. 37500 37500 Bal. Rent Revenue Clos. 6300 6300 Bal. Depreciation Expense 2900 ||| Clos. 2900 Bal. Salaries Expense 38300 ||| Clos. 383001 Bal. Utilities Expense 9900 ||| Clos. 9900 Bal