Kimberly Ashley, the bookkeeper for Interiors Designs, has just finished posting the closing entries for the year to the ledger. She is concerned about the following balances: Capital account balance in the general ledger: Ending capital balance on the statement of owner's equity: $194,200 111,200 Ashley knows that these amounts should agree and asks for your assistance in reviewing her work. Your review of the general ledger of Interiors Designs reveals a beginning capital balance of $100,000. You also review the general Journal for the accounting period and find the closing entries shown below. Date 2ex1 Dec. 31 GENERAL JOURNAL Description Closing Entries Fees income Accumulated depreciation Account payable Income Summary Page 15 Debit Credit 196,000 17,000 66,000 279,000 184,800 156,000 10,000 4,800 14,000 31 Income summary Salaries expense Supplies expense Depreciation expense Wade Wilson, Drawing Required: 2. Prepare a general journal entry to correct the errors made. 3. Reconcile the balance of capital account in the ledger after closing entries have been posted and the ending capital balance of owner's equity. Journal entry worksheet