Problem 16 The following is an adjusted trial balance for Fleischer ‘s Motel as of December 31 20* 2 . The accountant for Fleischer’s needs to close…

problem 16 The following is an adjusted trail balance for Fleischer’s Motel as of December 31 2002. The accountant for Fleischer’s needs to close out the……

Please finish Required 1 to 4 thanks.

Problem 16The following is an adjusted trial balance for Fleischer ‘s Motel as of December 31 20* 2 . Theaccountant for Fleischer’s needs to close out the temporary revenue and expense accountsto Income Summary , and then to the Owner’s Equity accounFleischer’s MotelTrial BalanceDecember 31 , 20 * 25 7, 100CastAccounts Receivable1 , 300Supplies4.501Prepaid Insurance15 000200InvestmentsAccounts Payable3, 00013000Note PayableMark Fleischer , Capital47 900Room Revenue670Rental Revenue3 740Wages2000Supplies Expense5. 960Utilities Expense9 760Rent Expense4.500Insurance Expense210Interest Expense8 64 : 170$ 64 , 7 70Required :Open the T – accounts for the revenues and expenses as well as the Income Summaryand Owner’s Equity accounts .Prepare the journal entries necessary to close out the temporary accounts to IncomeSummary , and post the entries to the proper T – accounts3 . Close the Income Summary out to Owner’s Equity and post the entry to the properT -account4 . Prepare a post – closing trial balance

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