Repair fees earned 90,950 (debit)

Income summary 90,950 (credit)

Income summary 60,200 (debit)

Depreciation expense, Equipment 5,000 (credit)

Wages expense 37,500 (credit)

Insurance expense 800 (credit)

Rent expense 10,600 (credit)

Office supplies expense 3,600 (credit)

Utilities expense 2,700 (credit)

To close Income Summary to capital:

Income summary 30,750 (debit)

C.Karise, Capital 30,750 (credit)

To close withdrawals against capital:

C.Karise, Capital 16,000 (debit)

C.Karise, Withdrawals 16,000 (credit)

Post close trial balance:

Only the following balance sheet account will change –

C.Karise, Capital 44,750 (credit)

The profit & loss accounts will all be zero.

By the way, your given trial balance is out of balance. Your total credits equals 140,550 only. Please recheck for typo errors or you’ll get this wrong (esp. if you gave the wrong capital account balance).

Good luck!