Question#$2(10$ marks$)$

A$)$ Prepare Closing Entries using the balances in the t$-$accounts provided below. $(4$ MARKS$)$

B$)$ Using the T$-$Accounts given, please post the entries back into the $T$ Accounts and calculate the ending balances. $(6$ marks$)$

$\backslash$table$[[$Marcy Jones, Capital,$],[,105000,$ Dec. $31],[,]]$

Rent Expense

$12,000$

Marcy Jones, Withdrawals

$\backslash$table$[[$Dec$.31,30,000,]]$

$q,$

Income Summary

$\backslash$table$[[,]]$

Services Revenue

$\backslash$table$[[,100,000$ Dec. $31]]$