Hello can you please explain how to do this and give me the results. Im not sure

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Hello can you please explain how to do this and give me the results.

Im not sure how to tackle this like at all so S.O.S.!! Thanks for your help you will be rated 5 stars!!

Post the closing entries and balance the accounts. (Use T-accounts.) Income Summary is account No. 350.

Then, do the post closing trial balance.

Hubbs Company
Worksheet
For the Year Ended December 31, 2014 Income Statement Balance Sheet Account
No. Account Titles Dr. Cr. Dr. Cr. 101 Cash 6,978 112 Accounts Receivable 7,592 130 Prepaid Insurance 2,107 157 Equipment 34,415 167 Accumulated Depreciation

Explanation / Answer

Hello can you please explain how to do this and give me the results. Im not sure

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