SY&I is a partnership owned by T. Shitang, D. Yamamoto, and J. Ishikawa, who share profits and losses in the ratio of 2:3:5. The adjusted trial balance of the partnership (in condensed form) at September 30, 2017, follows:

Required
1. Prepare the September 30, 2017, entries to close the Revenue, Expense, Income Summary, and Withdrawals accounts.
2. Using T-accounts, insert the opening Capital balances in the partner Capital accounts, post the closing entries to the Capital accounts and determine each partner's ending Capital balance.

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SY& Adjusted Trial Balance September 30, 2017 Cash Noncash assets Liabilities T. Shitang, capital D. Yamamoto, capital J. Ishikawa, capita T. Shitang, withdrawals D. Yamamoto, withdrawals 110,000 389,000 319,000 125,000 97,000 46,000 99,000 81,000 40,000 Ishikawa, withdrawals Revenues Expenses Totals 928,000 796,000 $1,515,000 $1,515,000