The following is the adjusted trial balance for Steely Company for the year ending December 31, 20XX.

Journalize the four closing entries for the year ended December 31, 20XX.

Prepare an income statement, statement of owners equity and classified balance sheet in good order and form (assets and liabilities should be in order of liquidity) for the year ending December 31, 20XX.

*Photos of the problem and questions are included*

out References Manlings Review View Help Design Layout A-, Ite. 2.20 || Emphases Heading 1LNormal] Strong Subtitle x, x' A Font Paragraph Styles PROBLEM #2 The following is the adjusted trial balance for Steely Company for the year ending December 31, 20xx. Steely Company Adjusted Trial Balance December 31,20XX Cash Accounts Receivable 6130 2,300 750 Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable- Due on June 30,20X1 Steely Capital Steely, Withdrawals Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense 13 400 1,200 1,700 5,000 870 6,600 1,450 900 475 150 Miscellaneous Expense Totals 26,500 Journalize the four closing entries for the year ended December 31, 20XX