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 60,000 250,000 Equipment Accumulated depreciation Equipment Accounts payable 15,500 40,000 Bank loan 65,600 190,000 Capital Drawings 8,000 Service revenue 240,000 15,000 Wages expense Rent expense Insurance expense 75,500 6,800 Depreciation expense-Equipment 10,800 551,100 551,100 1. Prepare the closing entries for the business. Dates and narrations are required. (5 marks) 2. Calculate the ending balance of capital. (1 mark) 3. Prepare the Statement of Changes in Owner's Equity for the year ended 30 June 2018. Assume the owner did not make any contribution to the business for the year