Question: Required: 1. Journalize the closing entries with the four steps in the correct sequence. Data for the adjustments are as follows: a. Expired or used

or used up insurance, $665. b. Depreciation expense on equipment, $860. c.

Required: 1. Journalize the closing entries with the four steps in the correct sequence. Data for the adjustments are as follows: a. Expired or used up insurance, $665. b. Depreciation expense on equipment, $860. c. Depreciation expense on the van, $1,345, 2. Assume that after completing the statement of owner's equity the amount for B. Schwartz, Capital, June 30,20 - is $15,691. Prepare a balance sheet. d, Salary accrued (earned) since the last payday, $750 (owed and to be paid on the next payday)

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