you will present your analysis by writing and editing a text of about 500 words. Case study: Angela Davis, the bookkecper for Home Select Company, has just finished posting the closing entries for the year to the ledger. She is concemed about the following balances: Capital account balance in the general ledger: $97.100 Ending capital balance on the statement of owner's equity: $55.600 Davis knows these amounts should agree and asks for your assistance reviewing her work. Your report of the general ledger of Home Select Company reveals a beginning capital balance of 550.000 . You also review the general journal for the accounting period and find the closing entries below. Write the following report: 1. Executive summary (50 words) Briefly state the report's purpose and list your review's key points and findings. 2. Background ( 75 words) What errors did Ms. Davis make in preparing the closing entries for the period? 3. Current situation/Key Findings (100-150 words) Prepare a general journal to correct the errors made. 4. Recommendations ( 100150 words) Explain why the balance of the capital account in the ledger after closing entries have been posted will be the same as the ending capital balance on the statement of the owner's equity. 5. Conclusion ( 50 words) Briefly summarize the main issue and your main findings and recommendations. Remember to: - Your writing must be clear and coherent. - You must distinguish between the summary elements to clearly define the subject and the elements of analysis. 1 Egglish in Accounting 1 - Do not write more than 500 words. - Write your text on page 3 of this exam document. GENERAL JOURNAL