Presented Below Is an Adjusted Trial Balance for Shawn Company

Presented below is an adjusted trial balance for Shawn Company at December 31 2016. $$\begin{array} { l r l r } \text { Cash } & \$ 7,700 & \text { Accounts payable } & \$ 10,000 \\\text { Accounts receivable } & 20,000 & \text { Notes payable } & 9,000 \\\text { Prepaid insurance } & 15,000 & \text { Accumulated depreciation- } & \\\text { Equipment } & 35,000 & \text { Equipment } & 14,000 \\\text { Depreciation expense } & 7,000 & \text { Service revenue } & 29,000 \\\text { Owner's Drawings } & 1,500 & \text { Owner's capital } & 24,000 \\\text { Advertising expense } & 1,400 & \text { Unearned service revenue } & 16,000 \\\text { Rent expense } & 800 & & \\\text { Salaries and wages expense } & 12,000 & & \\\text { Insurance expense } & 1,600 & \\& \underline { 102,000 }&& \underline { 102,000 } \end{array}$$ Instructions
(a) Prepare closing entries for December 31 2016.
(b) Determine the balance in the Owner's Capital account after the entries have been posted.