Requirement #9: Post the closing entries to the T-Accounts on the General Ledger worksheet and compute ending balances. Just add to the adjusted balances already listed. Date Description (Account Name) Debit Credit 31-Oct Bicycle Repair Revenue 2,672 Income Summary 2,672 Income Summary 1,600 Store Rent Expense 1,040 Utility Expense 154 Insurance Expense 100 Repair Supplies Expense 196 Depreciation Expense 70 Income Tax 40 Retained Earning 800 Dividend 800 Income Summary 1,072 Retained Earning REQUIREMENT #2: Post the October journal entries to the following T-Accounts and compute ending balances. Cash (111) Bicycle Repair Revenue (411) Common Stock 12,000 Insurance Expense 12,000 To TRF to P/L Acct. 2,712 By Cash 1,362 Bicycle Repair Revenue 1,362 Store Rent Expense 1,040 By Cash 1,350 Bicycle Repair Revenue 1,350 Equipment 600 Utility Expense 154 Dep-Expense Repair Equipment 200 Dividends 800 By Cash C/D 10,718 TOTAL: 14,712 TOTAL: 14,712 TOTAL: 2,712 TOTAL: 2,712 Prepaid Insurance (117) Store Rent Expense (511) Insurance Expense 100 Insurance Expense 100 To Cash 1,040 By Balance TRF to P/L Acct. 1,040 Balance 10/31: 100 Balance 10/31: 100 TOTAL: 1,040 TOTAL: 1,040 Repair Supplies (119) Utility Expense (512) To Cash 154 By Balance TRF to P/L Acct. 154 TOTAL: 154 TOTAL: 154 Repair Equipment (144) Insurance Expense (513) To Cash 1,200 By Balance TRF to P/L Acct. 1,200 To Cash 100 Pre Paid Insurance 100 TOTAL: 1,200 TOTAL: 1,200 BALANCE 10/31: 1,100 BALANCE 10/31: 1,100 Accum. Depr.-Repair Equipment (145) Repair Supplies Expense (514) To TRFD to Balance Sheet 70 Depreciation Exp. 70 Repair Supplies 196 BALANCE 10/31: 70 BALANCE 10/31: 70 BALANCE 10/31: 196 BALANCE 10/31: 196 Accounts Payable (212) Depr. Exp.-Repair Equipment (515) To TRFD to Balance Sheet 4,190 By Repair Supplies 390 To Cash 200 By TRF to P/L Acct. 200 By Equipment 4,190 Accumulated Depr. 70 Depreciation Exp. 70 TOTAL: 200 TOTAL: 200 TOTAL: 4,190 TOTAL: 4,190 BALANCE 10/31: 270 BALANCE 10/31: 270 Income Taxes Payable (213) Income Taxes Expense (516) Tax Payable 40 Tax Expence 40 Tax Payable 40 Tax Expence 40 BALANCE 10/31: 40 BALANCE 10/31: 40 BALANCE 10/31: 40 BALANCE 10/31: 40 Common Stock (311) Balance C/D 12,000 By Cash 12,000 Total: 12,000 TOTAL: 12,000 Retained Earnings (312) Dividends (313) To Cash: 800 By TRF to Retained Earnings Acct. 800 TOTAL: 800 TOTAL: 800 1,072