The adjusted trial balance shown below is for Greenwood Real Estate at the end of its reporting period 30 June 2019.

	Debit $	Credit $
Cash at bank	10400
Accounts receivable	9400
Office supplies	600
Prepaid insurance	2500
Office equipment	14000
Accumulated depreciationoffice equipment		4800
Accounts payable		3800
Salaries payable		2000
Rent revenue received in advance		600
Greenwood, Capital		16200
Greenwood, Drawings	700
Service revenue		35600
Rent revenue		12000
Salaries expense	28000
Office supplies expense	1700
Utility expense	5000
Insurance expense	1500
Depreciation expenseoffice equipment	1200
	75000	75000

Required

a) Prepare the required closing entries for Greenwood Real Estate for the year ended 30 June 2019. Narrations are required. (13 Marks)

b) Prepare Greenwoods Capital account using the T-account provided below. (2 Marks) (Total 15 Marks)

Greenwood, Capital

Date	Explanation	Amount $	Date	Explanation	Amount $