Problem 6.2A Journalizing and posting adjusting and closing entries and preparing a postclosing trial balance. LO 6-1, 6-2

A completed worksheet for The King Group is given below.

The King Group
Worksheet
Month Ended December 31, 2016
	Trial Balance						Adjustments								Adjusted Trial Balance						Income Statement						Balance Sheet
Account Name	Debit			Credit			Debit				Credit				Debit			Credit			Debit			Credit			Debit			Credit
Cash		92,000														92,000												92,000
Accounts Receivable		11,600														11,600												11,600
Supplies		5,200									(	a)	2,000			3,200												3,200
Prepaid Advertising		20,800									(	b)	2,600			18,200												18,200
Equipment		50,000														50,000												50,000
Accumulated DepreciationEquipment											(	c)	2,000						2,000												2,000
Accounts Payable					11,600														11,600												11,600
Delva King, Capital					128,000														128,000												128,000
Delva King, Drawing		8,000														8,000												8,000
Fees Income					63,600														63,600						63,600
Supplies Expense							(	a)	2,000							2,000						2,000
Advertising Expense							(	b)	2,600							2,600						2,600
Depreciation ExpenseEquipment							(	c)	2,000							2,000						2,000
Salaries Expense		14,000														14,000						14,000
Utilities Expense		1,600														1,600						1,600
Totals		203,200			203,200				6,600				6,600			205,200			205,200			22,200			63,600			183,000			141,600
Net Income																						41,400									41,400
																						63,600			63,600			183,000			183,000

1.	Journalize the adjusting entries for December 31, 2016.