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half an hour plaese Question 2 [15 points) Following is the adjusted trial balance, with accounts listed in alphabetical order for Cola Company at February

image text in transcribed half an hour plaese
Question 2 [15 points) Following is the adjusted trial balance, with accounts listed in alphabetical order for Cola Company at February 28, 2014. Use this information to prepare the closing entries. Use the numbers below as the description for the corresponding closing entry. 1. Close all temporary credit balance accounts to the income summary account. 2. Close all temporary debit balance accounts to the income summary account. 3. Close the income summary (net income) to capital. 4. Close the income summary (net loss) to capital. 5. Close withdrawals to capital. Enter the dates in the format dd/mmm (ie. 15/Jan). Cola Company General Journal Adjusted Trial Balance Date Account/Explanation F Debt Credit February 28, 2014 Debit Credit Accounts receivable Accumulated depreciation, equipment Bonds payable Capital Page JB 0 + Il + Cash Consulting revenue earned Depreciation expense, equipment Equipment Interest earned Interest expense Withdrawals Totals 8,130 5,000 39.270 6.420 5,770 6,670 1,260 40,170 2,630 2,830 1,830 59,990 59,990

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