General Journal Closing Entries, Capital and Statement of changes in Equity (11 marks) Below is the Adjusted Trial Balance for B J Electricals as at 30 June 2018 B J Electricals Trial Balance (Adjusted) As at 30 June 2018 Accounts Debits Credits Cash at bank 125,000 Accounts receivable 60,000 Equipment 250,000 Accumulated depreciation Equipment 15,500 Accounts payable 40,000 Bank loan 65,600 Capital 190,000 Drawings 8,000 Service revenue 240,000 Wages expense 15,000 Rent expense 75,500 Insurance expense 6,800 Depreciation expense Equipment 10,800 551,100 551,100 Prepare the closing entries for the business Dates and narrations are required (5 marks) Calculate the ending balance of capital (1 mark) Prepare the Statement of Changes in Owners Equity for the year ended 30 June 2018 Assume the owner did not make any contribution to the business for the year (5 marks) Prepare the closing entries for the business Dates and narrations are required (5 marks) Date Accounts Debit Credit 2 Calculate the ending balance of capital (1 mark) 3 Prepare the Statement of Changes in Owners Equity for the year ended 30 June 2019 Assume the owner did not make any contribution to the business for the year (5 marks)

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General Journal Closing Entries, Capital and Statement of changes in Equity (11 marks) Below is the Adjusted Trial Balance for B.J Electricals as at 30

General Journal Closing Entries, Capital and Statement of changes in Equity (11 marks)

Below is the Adjusted Trial Balance for B.J Electricals as at 30 June 2018:

B.J Electricals Trial Balance (Adjusted) As at 30 June 2018
Accounts	Debits	Credits
Cash at bank	125,000
Accounts receivable	60,000
Equipment	250,000
Accumulated depreciation-Equipment		15,500
Accounts payable		40,000
Bank loan		65,600
Capital		190,000
Drawings	8,000
Service revenue		240,000
Wages expense	15,000
Rent expense	75,500
Insurance expense	6,800
Depreciation expense-Equipment	10,800
	551,100	551,100

Prepare the closing entries for the business. Dates and narrations are required. (5 marks)
Calculate the ending balance of capital. (1 mark)
Prepare the Statement of Changes in Owners Equity for the year ended 30 June 2018. Assume the owner did not make any contribution to the business for the year.(5 marks)

Prepare the closing entries for the business. Dates and narrations are required. (5 marks)

Date	Accounts	Debit	Credit

2. Calculate the ending balance of capital. (1 mark)

3. Prepare the Statement of Changes in Owners Equity for the year ended 30 June 2019. Assume the owner did not make any contribution to the business for the year. (5 marks)