Part B (a) and (b)

Part B Presented below is an adjusted trial balance for Shayla Company, as at 31 December 2021. Cr (RM) 10,000 9,000 Cash Accounts receivable Prepaid insurance Equipment Drawings General expenses Dr (RM) 7,700 20,000 15,000 35,000 1,500 22,800 Accounts payable Notes payable Accumulated depreciation Equipment Service revenue Shayla capital Unearned service revenue TOTAL 14,000 29,000 24,000 16,000 102,000 TOTAL 102,000 Instructions: (a) Prepare closing entries for the month of December 2021 (8 marks) (b) Determine the balance in Shayla's Capital account after the entries have been posted (2 marks)