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1 Steps 2 1 Close Revenue to Income Summary - prepare journal entry 3 4 5 6 7 8 9 10 11 12 13 14 15 16 2 Close All expenses to income Summary - prepare journal entry 3 Close Net income (Income - expenses) to Capital prepare journal entry 4 Close Drawing to Capital - prepare journal entry 5 Post these entries to the general ledger in tab 2 using the green lines to post these entries 6 Prepare a Post closing trail balance in Tab 3 Col M and N Complete the closing entries to income summary here DR CR

Steps 1 Close Revenue to Income Summary - prepare journal entry 2 Close All expenses to income Summary - prepare journal entry 3 Close Net income (Income - expenses) to Capital prepare journal entry 4 Close Drawing to Capital - prepare journal entry 5 Post these entries to the general ledger in tab 2 using the green lines to post these entries 6 Prepare a Post closing trail balance in Tab3ColM and N 14 15 Complete the closing entries to income summary here 16 Steps 1 Close Revenue to Income Summary - prepare journal entry 2 Close All expenses to income Summary - prepare journal entry 3 Close Net income (Income - expenses) to Capital prepare journal entry 4 Close Drawing to Capital - prepare journal entry 5 Post these entries to the general ledger in tab 2 using the green lines to post these entries 6 Prepare a Post closing trail balance in Tab3ColM and N 14 15 Complete the closing entries to income summary here 16

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