write my assignment 12576

problem 16 The following is an adjusted trail balance for Fleischer’s Motel as of December 31 2002. The accountant for Fleischer’s needs to close out the……

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Problem 16The following is an adjusted trial balance for Fleischer ‘s Motel as of December 31 20* 2 . Theaccountant for Fleischer’s needs to close out the temporary revenue and expense accountsto Income Summary , and then to the Owner’s Equity accounFleischer’s MotelTrial BalanceDecember 31 , 20 * 25 7, 100CastAccounts Receivable1 , 300Supplies4.501Prepaid Insurance15 000200InvestmentsAccounts Payable3, 00013000Note PayableMark Fleischer , Capital47 900Room Revenue670Rental Revenue3 740Wages2000Supplies Expense5. 960Utilities Expense9 760Rent Expense4.500Insurance Expense210Interest Expense8 64 : 170$ 64 , 7 70Required :Open the T – accounts for the revenues and expenses as well as the Income Summaryand Owner’s Equity accounts .Prepare the journal entries necessary to close out the temporary accounts to IncomeSummary , and post the entries to the proper T – accounts3 . Close the Income Summary out to Owner’s Equity and post the entry to the properT -account4 . Prepare a post – closing trial balance