Acct llti Chapter E- Homework Handout Problem 3 The Taccounts on due next page show general ledger balanoes after adjustments, but before closing, for March 31, 2019. Use the information in the T aocounts to do the following: 1.]oumalize the closing entries for March, 2H19. Journal entry descriptions aren't required. The journal entry tab is labeled "P3]ournal." Tips: Closing entries are dated the last dag.F of the month. You should have four journal entries. No more, no less. Consider posting to die taccotmts to keep track of your balances. 2. Answer the following questions: a. What is the ending balance in Capital after closing? b. On what financial statementtfs] does the ending balanoe in Capital appear? I; What is the ending balance in Serm'cs Fess after dosing?. d. On what financial statementfs] does the amount of Service Fees for the month appear? e. What is the amount of net income (or net loss] for the month? i. What is the ending balance in Income Summary after closing? g. What is the formula to calculate book 1iiI'alue't'? h. What is the amount of the book value of the truck? i. On which financial statement does the book 1value appear? Acct 110 Chapter 6 Homework Handout Cash Accounts Receivable Supplies Bal. 1,500 Bal. 700 Bal. 120 Accumulated Depreciation - Truck Truck Accounts Payable Bal. 30,000 Bal. 12,000 Bal. 400 K. Rashad, Capital K. Rashad, Drawing Bal. 19,585 Bal. 375 Service Fees Cell Phone Expense Depreciation Expense - Truck Bal. 2,875 Bal. 80 Bal. 300 Gas and Oil Expense Miscellaneous Expense Bal. 95 Bal. 25 Rent Expense Supplies Expense Utilities Expense Bal. 325 Bal. 250 Bal. 140 Wages Expense Bal. 790 Acct 110 Chapter 6 Homework Handout in Problem 3 Closing Journal Entries Date Accounts Debit Credit