The accountant for Vishal's Sports Consulting has posted adjusting entries (a) through (e) to the accounts at December 31, 2017. All the revenue, expense, and owner's equity accounts of the entity are listed on the next page in T-account form.
Required
1. Journalize Vishal's Sports Consulting's closing entries at December 31, 2017. Include explanations.
2. Determine Vishal's Sports Consulting's ending Capital balance at December 31, 2017.

Transcribed Image Text:

Accumulated Amortization-Furniture Accounts Receivable Supplies 6,000 (b) 5,500 41,000 (a) 7,250 9,000 (c) 1,650 Accumulated Amortization_ Building Salaries Payable V. Deep, Capital 49,500 (d) 6,000 (e 1,050 110,600 V. Deep, Withdrawals 122,100 Salaries Expense 36,000 Service Revenue 166,500 (a) 7,250 (e 1,050 Amortization Expense-Furniture Amortization Expense- Building Supplies Expense (b) 5,500 (c) 1,650 (d 6,000