[beplmi]

So I have an adjusted trial balance and I'm being asked to journalize closing entries

Where do I begin?
Im clueless

[pready]

Close out your revenues and expenses to Income Summary.

Next close out Income Summary to Retained Earnings.

Finally close out drawings to the Capital account, or dividends to Retained Earnings.

[beplmi]

What does it look like though?

[pready]

Revenues have a credit balance so debit the revenues accounts for their balance and credit Income Summary for the total amount of expenses.

Expenses have a debit balance so debit the expense accounts for their balance and debit Income Summary for the total amount of expenses.

Now get the difference between your credits and debits from your Income Summary account, which normally will be a debit, so debit your Income Summary and Credit Retained Earnings for the same amount.

Finally credit drawings and debit the Owners Capital account for the amount in the drawings account or credit dividends and debit retained earnings for the amount in the dividends account.

I have attached a completed worksheet from the trial balance to the post-closing balance sheet so you will see what one looks like.

[beplmi]

Thank you!