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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
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: 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. 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. Complete this question by entering your answers in the tabs below. Prepare a general journal entry to correct the errors made. Reconcile the balance of capital account in the ledger after closing entries have beer owner's equity
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