$2$

Critical Thinking Problem $6\mathrm{.}2($Algo$)$ Owner's Equity. LO $6-1,6-3$

Alexis Wesson, the bookkeeper for Home Interiors, has just finished posting the closing entries for the year to the ledger. She is concerned about the following balances

Capital account balance in the general ledger:

Alexis knows that these amounts should agree and asks for your assistance in reviewing her work journal for the accounting period and find the closing entries shown below.

$\backslash$table$[[,$GENERAL JOURNAL,,Page $15],[\backslash$table$[[$Date$],[$December $31,20$X$1]],$Description Closing Entries,Debit,Credit$],[$Fees income,$200,900,],[$Accumulated depreciation,$17,700,],[$Account payable,$67,400,],[$Income summary,,$286,000],[$December $31,20$X$1,$Income summary,$184,800,],[$Salaries expense,,$158,100],[$Supplies expense,,$10,000],[$Depreciation expense,,$4,800],[$Beatrice Sanders, Drawing,,$11,900]]$

Required:

$2.$ Prepare a general journal entry to correct the errors made.

Required:

$2.$ Prepare a general journal entry to correct the errors made

$3.$ Reconcile the balance of capital account in the ledger after closing entries have been posted and the ending capital balance of owner's equity

Complete this question by entering your answers in the tabs below.

Required $3$

Prepare a general journal entry to correct the errors made.

Journal entry worksheet

$1$

Record the entry to correct errors made in closing entries.

Journal entry worksheet

$1$

Record the entry to correct errors made in closing entries.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,,,],[\backslash$table$[[$December $31,],[20$X$1]],$General Journal,Debit,Credit$],[,,,],[,,,\{],[,,,],[,,,],[,,,]]$

Required $2$

Required $3$

Reconcile the balance of capital account in the ledger after closing entries have been posted and the ending capital balance of owner's equity.

$\backslash$table$[[],[$Expenses:$],[],[],[],[0],[$$ $0],[],[$$ $0],[],[,$$$,0],[$Capital account balance in general ledger$],[,,],[$Corrected ending Capital balance,$$,0]]$

Required $3$