Hi! Can someone tell me if my financial statements are correct including the closing entries and the post closing trial balance? Thank you. This is my 20th question so please help me. My previous questions weren't answered. Thanks a lot

21 A1 A J M 1 2 4 5 6 7 + 3 100%S % * . .00 123- Default (Ca... - 11 B 1 ISABES Il y P OY [it] - . fix Milagros Marchombsar won a concession to rent our bicycles in the Rizal Park during the summer. During the month of August, Marohombsar completed the following transactions for her bicycle rental B E F G L N O P o R s U Milagros Marohombsar won a concession to rent our bicycles in the Rizal Park during the summer. During the month of August, Marohombsar completed the following transactions for her bicycle rental business: 2-Aug Began business by placing $120,000 in business checking account 3 Purchased supplies on account for $1500. 4 Purchased ten bicycles for $25,000, paying $13,000 down and agreed to pay the balance in 30 days. 5 Paid $31,000 in cash for a furnished container to store the bicycles and use for other operations. 6 Received $4,700 cash for rentals during first week of operations. 8 Paid $4,000 in cash for the cost of container) to place the container at the park entrance. 9 Hired a part-time assistant to help on weekends. 10 Paid a maintenance person $750 to clean the grounds. 12 Received $6500 in cash for rentals during the second week of operations. 16 Paid the assistant $560 for weekend work. 17 Paid supplies purchased on August 3. 18 Paid a $550 repair bill on bicycles. 20 Received $5,500 in cash for rentals during the third week of operations. 22 Paid the assistant $480 for weekend's work. 23 Billed an entity $1,100 for bicycle rentals for employees' outing, 25 Paid the $3,000 fee for August to Park Adn concession. 27 Received $4,100 in cash for rentals during the week. 29 Paid the assistant $560 for weekend's work. 30 Transferred $5,000 to personal checking count. . 10 11 12 13 15 16 17 19 20 21 100%. $ % . .00 123 Default (Ca... 18 BIG ES PO Y - > 31 H16 B E F G H 1 J K L 1 2 MAROHOMBSAR BIKE RENTAL ADJUSTED TRIAL BALANCE ACCOUNT TITLES PR DEBIT 3 CREDIT 4 5 5 + 7 80,400 1,100 1,500 25,000 35,000 8 9 10 Cash Accounts Receivable Supplies Bicycles Container Accounts Payable Marohombsar, Capital Rental Revenues Wages Expense Maintenance Expense Repair Expense Concession Fee Expense 11 12,000 115,000 21,900 12 13 14 15 1,600 750 550 3,000 148,900 16 17 148,900 18 19 20 100% - $ % 0.00 123 Default (Ca... - 11 BIS - Il 9 - Y- - 31 G13 A B C D E F G ! J 1 1 2 3 2 21,900 4 5 MAROHOMBSAR BIKE RENTAL STATEMENT OF FINANCIAL PERFORMANCE Rental Revenues Less: Direct Expenses (Wages Expense) 1,600 Gross Profit Less: Indirect Expenses Maintenance Expense 750 Repair Expense 550 Concession Fee Expense 3,000 Net Profit 20,300 + 7 B 9 16,000 11 13 14 15 16 17 18 19 20 21 100%S % 0 .00 123 Default (Ca... 11 BIS 19. Y.. E16 D E F G H 1. MAROHOMBSAR BIKE RENTAL STATEMENT OF CHANGES IN OWNER'S EQUITY 3 Marohombsar, Capital, Beg. Add: Net Profit Earned Marohombsar, Capital, End 115,000 16,000 131,000 D 7 10 11 12 13 74 15 15 17 18 19 20 21 23 100% - $ $.00 123 Default (Ca... 11 BI A POY.E. 30 E13 B E F G H 1 J K 2 3 3 4 STATEMENT OF FINANCIAL POSITION ASSETS Current Assets Cash 80,400 Accounts Receivable 1,100 Total Current Assets 81,500 5 6 7 H 9 + 10 11 Non-current Assets Supplies Bicycles Container Total Non-current Assets TOTAL ASSETS 12 1,500 25,000 35,000 61,500 143,000 13 14 15 16 17 LIABILITIES Current Liabilities Accounts Payable 12,000 18 19 20 Non-current Liabilities 0 21 22 23 131,000 OWNER'S EQUITY Marohombsar, Capital TOTAL LIABILITIES AND OWNER'S EQUITY 24 25 143,000 26 + CHANGES IN EQUITY BALANCE SHEET CASH FLOWS, CLOSING ENTRIES ADJUSTED TRIAL BALANCE 2 2 100% - $ % 0 .00 123 Default (Ca... 11 - B1 - & A = 1 IF , e | | | Y , , F11 fx B C D E F H 1 J 2 STATEMENT OF CASH FLOWS 4 5 16,000 6 7 Cash flows from Operating Activities Net Profit Change in Working Capital Accounts Receivable increased Supplies increased Accrued Payable Total Cash flow from Operating Activities + 8 -1,100 -1,500 12,000 25,400 9 10 11 12 13 Cash flows from Investing Activities Purchase of Bicycle Purchase of Freehold property (Container) Total Cash flow from Investing Activities 14 -25,000 -35,000 -60,000 15 16 17 18 Cash flows from Financing Activities Capital Introduced Capital Withdrawn Total Cash flow from Financing Activities 19 120,000 5,000 115,000 20 21 22 80,400 23 Net Cash Flow (Operating + Investing + Financing) Beginning cash and cash equivalents Ending cash and cash equivalents 24 80,400 1 INCOME STATEMENT - CHANGES IN EQUITY - BALANCE SHEET CASH FLOWS - CLOSING ENTRIES - A + 100% - $ %0.00 123 Default (Ca... - 11 BISA Y-3 , ET H13 AX F H 1 K 1 CREDIT 2 2 3 DATE Aug 31 CLOSING ENTRIES PARTICULARS Rental Revenues Income and Expense Summary To close income to income and expense summary account DEBIT 21,900 4 21,900 5 6 + Aug 31 5,900 20 101 Income and Expense Summary Wages Expense Repair Expense Maintenance Expense Concession Fee Expense To close expense to income and expense summary account 1,600 750 550 3,000 11 12 13 18 14 15 16 Aug 31 16,000 16,000 17 18 19 20 21 Income and Expense Summary Marohombsar, Capital To close net profit to income and expense summary account 23 + "EMENT - CHANGES IN EQUITY BALANCE SHEET CASH FLOWS CLOSING ENTRIES - ADJUSTED TRIAL BALAI 100% $ % 0 .00 123 Default (Ca... - 11 BISA BES I E OY - - 31 F13 fx A B C D E F G J K L 1 1 2 MAROHOMBSAR BIKE RENTAL POST-CLOSING TRIAL BALANCE ACCOUNT TITLES PR DEBIT CREDIT 4 5 + 7 Cash Accounts Receivable Supplies Bicycles Container Accounts Payable Marohombsar, Capital 80,400 1,100 1,500 25,000 35,000 B 10 11 12,000 131,000 143,000 12 143,000 13 14 15 1 16 17 19 20 21 23 + "EMENT - CHANGES IN EQUITY - BALANCE SHEET - CASH FLOWS CLOSING ENTRIES ADJUSTED TRIAL BALAI