The Adjusted Trial Balance of J Instructions
Using the Information Given Prepare the Year-End Closing Entries

Essay

The adjusted trial balance of J. W. Hatch Company appears below. $\begin{array}{c}\text { J. W. HATCH}\\\text { Adjusted Trial Balance}\\\text { December 31, 2016}\\\\\begin{array}{lrr}& \text {Debit}& \text {Credit}\\\text { Cash } & 12,000 \\\text { Accounts Receivable } & 25,000 & \\\text { Inventory } & 35,000 & \\\text { Buildings } & 140,000 & \\\text { Accumulated Depreciation- } & & \\\quad \text { Buildings } & & 20,000 \\\text { Accounts Payable } & & 12,000 \\\text { Owner's Capital } & & 144,000 \\\text { Owner's Drawings } &30,000 & \\\text { Sales Revenue } & &310,000 \\ \text { Sales Discounts } &6,000\\\text { Sales Returns \& Allowances } & 8,000 & \\\text { Cost of Goods Sold } & 188,000 & \\\text { Operating Expenses } & 42,000 & \\& 486,000 & 486,000 \end{array}\end{array}$ Instructions
Using the information given prepare the year-end closing entries.