Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / I need help

I need help

I need help

ERICKSON REAL ESTATE APPRAISAL
Adjusted Trial Balance
June 30, 2018
Balance
Account Title
Debit
Credit
$ 4,600
Cash
Accounts Receivable
5,300
Office Supplies
1,500
Prepaid Insurance
1,700
Land
13,000
Building
82,000
Accumulated Depreciation-Building
$25,200
Accounts Payable
18,700
Interest Payable
8,500
Salaries Payable
2,400
Unearned Revenue
7,600
Notes Payable (long-term)
40,000
Common Stock
3,000
Retained Earnings
39,500
Dividends
27,300
Service Revenue
48,100
Insurance Expense
4,400
33,500
Salaries Expense
Supplies Expense
300
Interest Expense
8,500
Utilities Expense
2,700
Depreciation Expense-Building
8,200
$193,000
$193,000
Total
Requirements
1. Prepare the company's income statement for the year ended June 30, 2018
Net Loss $(9,500)
2. Prepare the company's statement of retained earnings for the year ended June
30, 2018
3. Prepare the company's classified balance sheet in report form at June 30, 2018
4. Journalize the closing entries.
5. Open the T-accounts using the balances from the adjusted trial balance, and
post the closing entries to the T-accounts
6. Prepare the company's post-closing trial balance at June 30, 2018.

Sep 16 2020 View more View Less

Answer (Solved)

question Subscribe To Get Solution

Related Questions