Do the following assignment using Microsoft Excel (handwritten projects will not be accepted)

This is an individual assignment, make sure you have included your name, Id and Section no on the printout. Submit in class on Tuesday Feb 23rd, 2016

Any signs of copy/paste and you will get a zero in the assignment, submit your own work only.

The adjusted account balances of the Fitness Center at July 31 are as follows:

Accounts                                 Account Balances       Accounts                           Account Balances

Cash                                                 $11,000              Service Revenue                       $100,000

Accounts Receivable                         15,000              Interest Revenue                             8,000

Supplies                                                4,000              Depreciation Expense                   27,000

Prepaid Insurance                                8,000              Insurance Expense                          6,000

Buildings                                           300,000              Salaries and Wages Expense        35,000

Accumulated Depreciation-                                     Supplies Expense                            9,000

  Buildings                                         120,000              Utilities Expense                            12,000

Accounts Payable                              19,000

Owner's Capital                                195,000

Owner's Drawings                              15,000

Instructions

A) Prepare the end of the period closing entries for the Fitness Center.

B) Prepare a post closing trial balance

C) Prepare an owner's equity statement, multi step income statement and a classified balance for the company