Question: This exercise should be used in conjunction with Starter 4-4. 1. Set up all the T-accounts in Starter 4-4 and insert their adjusted balances (denote

This exercise should be used in conjunction with Starter 4-4.
1. Set up all the T-accounts in Starter 4-4 and insert their adjusted balances (denote as Bal.) at December 31, 2014. Also set up a T-account for Brett Kaufman, Capital, $10,500, and for Income Summary. Post the closing entries to the accounts, denoting posted amounts as Clo.
2. Compute the ending balance of Brett Kaufman, Capital.

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