Knowledge Check $01$

The company's adjusted trial balance as follows includes the following accounts balances: Cash, $$15,000$; Equipment, $$85,000$;

Accumulated Depreciation, $$25,000$; Accounts Payable, $$10,000$; Owner's Capital $$59,000$; Withdrawals, $$2,000$; Consulting Revenue,

$$56,000$; Depreciation Expense, $$25,000$; and Salaries Expense, $$23,000.$ All accounts have normal balances.

Prepare the first closing entry by selecting the account names from the pull$-$down menus and entering dollar amounts in the debit and

credit columns.

Journal entry worksheet

$1$

The company's adjusted trial balance as follows includes the following

accounts balances: Cash, $$15,000$; Equipment, $$85,000$; Accumulated

Depreciation, $$25,000$; Accounts Payable, $$10,000$; Owner's Capital $$59,000$;

Withdrawals, $$2,000$; Consulting Revenue, $$56,000$; Depreciation Expense,

Note: Enter debits before credits.