Improv Club (IC) features entertaining improvisational theatre performances. The theatre features a range of shows and talented performers. IC prepares financial statements on an annual basis. The following year-end accounts as of December 31, 2020 are listed in alphabetical order and have normal balances.

Improv Club (IC) features entertaining improvisational theatre performances. The theatre features a range of shows and talented performers. IC prepares financial statements on an annual basis. The following year-end accounts as of December 31, 2020 are listed in alphabetical order and have normal balances. Accumulated depreciation, equipment $ 13, 325 Cash 52,500 Depreciation expense, equipment 4, 130 Equipment 47, 300 Insurance expense 3, 240 Nick Stilz, capital 106,900 Nick Stilz, withdrawals 32, 250 Prepaid insurance 6,980 Rent expense 63,500 Salaries expense 43, 500 Supplies 2,900 Supplies expense 6, 400 Ticket revenue 137, 475 Unearned revenue 5,000 Required: 1-a. Prepare an adjusted trial balance as at December 31, 2020. Answer is complete and correct. IMPROV CLUB Adjusted Trial Balance2. Prepare the closing entries for the company. x Answer is not complete. No Date General Journal Debit Credit 1 December 31, 202 Ticket revenue V 137,475 Equipment X 137,475 2 December 31, 202 No Transaction Recorded 3. What is the ending balance of Nick Stilz's capital account as at December 31, 2020? Nick Stilz's capital accountJournal entry worksheet Record to close the expense accounts to the income summary. Note: Enter debits before credits. Clear entry View general journal Journal entry worksheet Record to close the income summary to capital. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2020 Record entry Clear entry View general journalJournal entry worksheet