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PROBLEM #2 - The following is the adjusted trial balance for Steely Company for the year ending December 31, 20XX. Steely Company Adjusted Trial Balance

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PROBLEM #2 - The following is the adjusted trial balance for Steely Company for the year ending December 31, 20XX. Steely Company Adjusted Trial Balance December 31, 20XX 6,130 2,300 750 13,400 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable - Due on June 30, 20X1 Steely, Capital Steely. Withdrawals Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 1,200 1,700 5,000 12,000 870 6,600 1,450 900 475 150 75 Totals 26,500 26,500 Journalize the four closing entries. General Journal Description Date Credit Debit Prepare an Income Statement, Statement of Owner's Equity and Classified Balance Sheet in good order and form for the year ending December 31, 20XX. (40 Points)

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