General Journal

1. Record entry to transfer fees income to income summary

2. Record entry to transfer expenses to income summary

3. record entry to transfer net income or net loss from income summary to capital.

4. Record entry to transfer drawings to capital account

The adjusted ledger accounts of Miraldi Landscaping Design on December 31, 2019, appear as follows. Account Name Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable G. Miraldi, Capital G. Miraldi, Drawing Fees Income Supplies Expense Insurance Expense Depreciation Expense-Equipment Salaries Expense Utilities Expense Balance 12,000 2,800 2,500 1,200 24,000 3,700 5,200 26,200 5,000 22,600 1,300 1,000 900 5,200 1,800 Prepare the Balance Sheet and Income Statement columns of the worksheet. Prepare the closing entries for Miraldi Landscaping Design on December 31, 2019. All accounts have normal balances and adjusting entries have been made. Complete this question by entering your answers in the tabs below. Inc Stmt and Bal St General Journal Prepare the Balance Sheet and Income Statement columns of the worksheet. Income Statement Debit Credit Balance Sheet Debit Credit ACCOUNT NAME Cash Accounts receivable Supplies Prepaid insurance Equipment Accumulated depreciation Equipment Accounts payable G. Miraldi, Capital G. Miraldi, Drawing Fees income Supplies expense Insurance expense Depreciation expense-Equipment Salaries expense Utilities expense Totals 0 0 0 Net Income 0 0