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The following closing entries were prepared for Apex Architectural Designs regarding its year just ended...

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Accounting

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The following closing entries were prepared for Apex Architectural Designs regarding its year just ended June 30, 2020: 2020 June 30 Design Revenue 130,00 Inese mary 138,00 To close the seven account. 30 Inese Summary 75, 120 Depreciation Expense, Office Equipment Depreciation Expens, Office Furniture 930 Insurance Ixpan Interest Expense 370 2,25 Telephone expen 1. TO utilities Expanse 2, BDO Salaries Expane 64,700 To close expense accounts. June 30 Inese Gary 62,180 Nolan Apex, Capital To close Income Summary to capital. 30 Nolan Apex, Capital 36,000 Nolan Apex, Withdrawal 36, To clove withdrawala to capital. Required: 1. Prepare an income statement based on the information provided. APEX ARCHITECTURAL DESIGNS Income Statement For Year Ended June 30, 2020 Raven Operating expenses Depreciation expense, office and Depreciation experie, office furniture Insurance expense Interest expense Supplies expense Telephone expense Utes expense Salaries experts Total operating expenses 2. Calculate the post-closing balance in the capital account at June 30, 2020, given that the adjusted balance on June 30, 2019, was $87,000 Balance in the capital account

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