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, 2023 are listed in alphabetical order and have normal balances.

Accumulated depreciation, equipment	$	13,000
Cash		40,000
Depreciation expense, equipment		4,000
Equipment		46,000
Insurance expense		3,000
Nick Stilz, capital		110,100
Nick Stilz, withdrawals		43,000
Prepaid insurance		6,500
Rent expense		61,000
Salaries expense		42,000
Supplies		4,000
Supplies expense		8,600
Ticket revenue		131,000
Unearned revenue		4,000

Required: 1-a. Prepare an adjusted trial balance as at December 31, 2023.

1-b. Will Nick Stilzs capital account of $110,100 appear on the balance sheet as at December 31, 2023?

multiple choice

Yes

No

2. Prepare the closing entries for the company.

3. What is the ending balance of Nick Stilzs capital account as at December 31, 2023?