The following is an Adjusted Trial Balance for Newfoundland Ice Harvesters Inc. Newfoundland Snow Removal Inc. Adjusted Trial Balance December 31, 2020 Debit Credit 31.950 55,500 5,700 6,300 4,800 56,850 Acct no. 101 106 126 128 131 163 168 201 210 215 301 302 GO 501 522 537 540 550 Account Cash Accounts Receivable Plow Supplies Prepaid Insurance Prepaid Rent Plow Truck Accumulated Depreciation Equipment Accounts Payable Accrued Wages Notes Payable W Bay, Capital W Bay, Withdrawals Snow Plow Fees Eamed Depreciation Expanse Eguipment Wares Expense Rent Expense Utilities Expense Plow Supplies Espent 12,000 14,850 8.100 45,000 182,225 97,500 224,200 6,000 157275 37,500 12.000 15.000 S8,2 5486.375 Required 1. Using the provided precoclonations are required 2. Using the provided Generated in the hopital account Paragraph 1 Qvo : HP E + TIM Finish the following worksheet Account Income Statement Debit Credit Balance Sheet De Crede Acet no 101 100 126 120 163 168 Adjusted Trial Balance Debit Credit 22650 7250 250 100 0,000 1.000 22:00 1600 10,000 2250 170 171 180 201 210 301 302 401 102 501 602 Accounts Receivable Office Supplies Prepaid insurance Omice Equipment Accumulated Depreciation, once Equipment Automobile Accumulated Depreciation Automobile Building Accounts Payabin Accrued Salones K. KURSE, Capital K Kruise withdrawa Tax Return on Earned Accounting Fees and Depreciation Expense ocent Depreciation expende Tito Gas Expense SOLO Office Super 10000 13:00 200 760 1.000 1500 357 540 1650 20 60 SO BETON 20 Newtoundland Snow Removal Inc. Adjusted Trial Balance December 31, 2020 Debit Credit 31,950 55,500 5,700 6,300 4,800 56,850 Acct no. 101 106 126 128 131 163 168 201 210 215 301 302 401 501 S22 537 540 550 Account Cash Accounts Receivable Plow Supplies Prepaid Insurance Prepaid Rent Plow Truck Accumulated Depreciation Equipment Accounts Payable Accrued Wages Notes Payable W Bay, Capital W Bay, Withdrawals Snow Plow Fees Earned Depreciation Expense, Equipment Wares Expense Rent Expense Utilities Expense Plow Supplies Expense 12,000 14,850 8,100 45,000 182,225 97,500 224,200 6,000 157,275 37,500 12,000 15,000 $486,375 $486,375 Required 1. Using the provided General Tournal, prepare the closing entries. Explanations are required 2. Using the provided General ledger account, update the balance in the Capital account : + Paragraph UA OB Balance Sheet Adjusted Trial Balance Debit Credit Income Statement Debit Credit Account Debit Credit Acct no. 101 106 126 128 163 168 22,650 7250 250 100 6,000 1,000 170 171 22 500 7.500 75,000 Cash Accounts Receivable Omice Supplies Prepaid Insurance Orice Equipment Accumulated Depreciation Office Eouipment Automobile Accumulated Depreciation Automobile Bulding Accounts Payable Accrued Salaries K Kruise, Capital K Kruise Withdrawals Tax Return Fees Eamed Accounting Fees Eamed Depreciation Expense, Otice Equipment Depreciation Expense Automobile Salaries Expense Gas Expense Insurance Expense Omice Supplies Expense 180 201 210 301 302 401 402 501 12.250 750 137.900 13,300 47.900 18.750 1.000 502 7500 522 537 540 550 2000 2000 500 500 220050 2220 OBO : 33 Finlah