The following is an Adjusted Trial Balance for Delaware Auto Repairs Inc Delaware Auto Repairs Inc Adjusted Trial Balance December 31, 2020 Debit Credit Acct.no 101 106 126 128 131 163 168 21,300 37,000 3.800 4,200 3,200 37.900 201 Account Cash Accounts Receivable Shop Supplies Prepaid Insurance Prepaid. Rent Equipment Accumulated Depreciation Equipment Accounts Payable Accrued Wages Notes Payable M Delaware, Capital M Delaware, Withdrawals Repair Fees Earned Depreciation Expense, Equipment Wages Expense Rent Expense Utilities Expense Shop Supplies Expense 18.000 9.900 5,400 30,000 176,300 210 215 301 302 401 501 522 537 540 550 130,000 182,800 4,000 128,000 25,000 8,000 10,000 $412 400 $412,400 Required 1. Using the provided General Journal, prepare the closing entries. Explanations are required. 2. Using the provided General ledger account, update the balance in the Capital account Paragraph U oo BC Date Capital Description PR Debit 301 Balance Credit Using the adjustment data below, finish the following worksheet Trial Balance Adjustments Adjusted Trial Balance Debit Credit Account Debit Credit Debit Credit Acct no. 101 106 126 128 153 168 45,300 14,500 500 1,200 12.000 201 301 302 Cash Accounts Receivable Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation, Office Equipment Accounts Payable K Kruise, Capital K Kruise, Withdrawals Painting Fees Earned Salaries Expense Gas Expense Office Supplies Expense Insurance Expense Depreciation Expense, Office Equipment 4,500 55,800 26,600 78.800 401 501 522 537 34,000 5,000 540 550 210 Accrued Salaries 139, 100 139.100 1 Office supplies on hand $100 2. Insurance used up for the period, 5600 3. Depreciation on the office equipment for the period: 51.000 Wages owed, but not paid, 5500 Paragraph = = 20 op + . 52 B I VA Expense. Office Equipment Accrued Salaries 210 139.100 139.100 1. Office supplies on hand $100 2. Insurance used up for the period: 5600 3. Depreciation on the office equipment for the period. $1,000 4. Wages owed, but not paid, 5500 Finish the following worksheet. Balance Sheet Adjusted Trial Balance Debit Credit Income Statement Debit Credit Account Debit Credit Acct 10 101 106 126 128 163 168 45,300 14,500 500 200 12,000 2,000 170 171 45,000 15,000 150,000 180 201 210 301 302 401 Cash Accounts Receivable Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation Office Equipment Automobile Accumulated Depreciation Automobile Building Accounts Payable Accrued Salaries K Kruise Capital K. Kruise, Withdrawals Psychic Reading Fees Earned Palm Reading Fees Earned Depreciation Expense, Office Equipment Depreciation Expense, Automobile Salaries Expense Gas Expense Insurance Expense Office Supplies Expense 24,500 1,500 175,800 26,600 95 800 402 37,500 501 2,000 502 15,000 522 537 540 550 34,000 5,000 1.000 1.000 352.100 352, 100 Paragraph v B 1 UA lila IIII Finish the following worksheet Balance Sheet Adjusted Trial Balance Debit Credit Income Statement Debit Credit Account Debit Credit 45,300 14,500 Acct no. 101 106 126 128 1163 168 Cash Accounts Receivable Omice Supplies Prepaid Insurance Omice Equipment Accumulated 5001 200 12.000 2000