sum Shal Format as Formatting Cell Table Styles Insert Delete Format -Fill- Clear Sc Fil Number Styles Cells Editing A B D 58 56 The company's trial balance for Jenny Consulting on December 31, 2020 is as follows: E 57 These balances have been recorded in the general ledger as the opening/beginning balance as at January 1, 2021. F G H T J K M N P Q R 59 Account No. Account Name 50 1010 Cash Debit $ Credit $ 51 1020 22,800 Accounts Receivable 52 4,100 1040 Supplies 900 3 1050 Prepaid Rent 3,200 4 1080 Office Equipment 15,000 5 1090 Accumulated Depreciation- Office Equipment 1,500 , 2010 Accounts Payable 800 + 2020 Salaries Payable 1,200 2030 Unearned Revenue 2,500 3010 3020 3030 Jenny Watson, Capital Jenny Watson, Withdrawals Income Summary 40,000 4010 Service Revenue 5005 Advertising Expense 5010 Salaries Expense 5020 Rent Expense 5030 Supplies Expense 5040 Depreciation Expense 5090 Telephone Expense 46,000 46,000 Ledger Instructions Part 1 Part 2 Part 3 Part 4 Part 5 B3 fx Font C D Alignment E Merge & Center %" Conditional Format as Ce Formatting Table Style 12 Number Styles F G H 1 Required: Prepare an income statement, a statement of owner's equity and a balance sheet from the adjusted trial balance in Part 3. 2 3 456789 10 11 12 13 14 A 19 20 1567822222222 B $ 23 24 $ & General Project 1-complete an accounting cycle - Excel paramjeet kaur File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Cut Calibri 11 A A ab Wrap Text General Copy Paste BIU- H A A Format Painter Merge & Center $ - % " 60 00 00 0 Clipboard Font E Alignment Number Conditional Format as Cell Formatting Table Styles- Styles Insert Delete Format AutoSum TP Sort & Find & # Clear Cells D14 3 fx A B D E F G H K L M N 0 P a R Jenny Consulting wants to close the accounting period as at January 31, 2021. This involves bringing the balances in all revenue, expense, and drawings accounts to zero, and updating the balance in the Owner's Capital account. 4 Required: 123456789 Prepare closing entries and a post-closing trial balance Prepare closing entries 1. close revenue accounts: Debit each individual revenue account for its balance, and credit Income Summary for total revenues. 2. close expense accounts: Debit Income Summary for total expenses, and credit each individual expense account for its balance. 3. close Income Summary account: Debit Income Summary for its balance (or credit it if there is a loss) and credit (debit) the Owner's Capital account. 4. Debit the Owner's Capital account and credit the Owner's Drawings account for the balance in drawings. 10 11 12 13 Date Description 14 1 15 16 17 18 2 19 20 21 22 23 PR: J10 General Journal AC no. Debit $ Credit $ +