The partial work Sheet for Ho Consulting for May Follows;

	A	H	I		J		K
		Income Statement Balance Sheet
5
6	Account Name	Debit		Credit		Debit		Credit
7	Cash					5,710.00
8	Supplies					209.00
9	Prepaid insurance					1,123.00
10	Equipment					5,731.00
11	Accumulated, Depreciation, Equipment							1,444,00
12	Accounts payable							1,841.00
13	Go, Ho capital							4,302.00
14	G, Ho, Drawing					2,400.00
15	Consulting Revenue			13,060.00
16	Rent expense	2,200.00
17	Wages expense	1,828.00
18	Supplies expense	422.00
19	Miscellaneous expense	230.00
20
21	Insurance expense	325.00
22	Depreciation expense, equipment	835.00
23	Wages payable
24								366.00
25	Net income	5,840.00		13,060.00		15,173.00		7.953.00
26		7,220.00						7,220.00
27		13,060.00		13,060.00		15,173.00		15,173.00

Required

1. a. writes the owners name on the capital and drawing t accounts

b. record the account balances in the T accounts for owners equity. Revenue and expenses

2. journalize the closing entries using four steps in correct order, number the closing entries 1 through 4

3. post the closing entries to the T accounts immediately after you journalize each one to see the affect of the closing entries, number the closing entries 1 through 4,