Income Summary - prepare journal entry 2 Close All expenses to income Summary - prepare journal entry 3 Close Net income (Income - expenses) to Capital prepare journal entry 4 Close Drawing to Capital - prepare journal entry 5 Post these entries to the general ledger in tab 2 using the green lines to post these entries 6 Prepare a Post closing trail balance in Tab 3 Col M and N Complete the closing entries to income summary here DR CR to close revenue to income summary list all ex to close expenses to income summary To close net income to capital To close Draw to Capital account