Eldrich Real Estate Appraisal Adjusted Trial Balance June 30, 2016 Account Title Cash Accounts Receivable Office...
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Eldrich Real Estate Appraisal Adjusted Trial Balance June 30, 2016 Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Building Accumulated Depreciation-Building Land Accounts Payable Interest Payable Salaries Payable Uneamed Revenue Notes Payable (long-term) Eldrich, Capital Eldrich, Withdrawals Service Revenue Insurance Expense Salaries Expense Supplies Expense Interest Expense Utilities Expense Depreciation Expense-Building Total $ Debit Balance 4,100 5,400 2,100 1,600 82,000 13,900 26,000 4,200 30,000 500 8,200 2,700 8,200 Credit 26,400 18.700 8,200 C 2,500 6,600 35,000 42,500 49,000 $ 188,900 $ 188,900 Prepare the company's income statement for the year ended June 30, 2016. Prepare the company's statement of owner's equity for the year ended June 30, 2016. Assume that there were no contributions made by the owner during the year. Prepare the company's classified balance sheet in report form at June 30, 2016. Journalize the closing entries. T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the T-accounts. Prepare the company's post-closing trial balance at June 30, 2016. Eldrich Real Estate Appraisal Adjusted Trial Balance June 30, 2016 Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Building Accumulated Depreciation-Building Land Accounts Payable Interest Payable Salaries Payable Uneamed Revenue Notes Payable (long-term) Eldrich, Capital Eldrich, Withdrawals Service Revenue Insurance Expense Salaries Expense Supplies Expense Interest Expense Utilities Expense Depreciation Expense-Building Total $ Debit Balance 4,100 5,400 2,100 1,600 82,000 13,900 26,000 4,200 30,000 500 8,200 2,700 8,200 Credit 26,400 18.700 8,200 C 2,500 6,600 35,000 42,500 49,000 $ 188,900 $ 188,900 Prepare the company's income statement for the year ended June 30, 2016. Prepare the company's statement of owner's equity for the year ended June 30, 2016. Assume that there were no contributions made by the owner during the year. Prepare the company's classified balance sheet in report form at June 30, 2016. Journalize the closing entries. T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the T-accounts. Prepare the company's post-closing trial balance at June 30, 2016.
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Lets go through each part of the question one by one 1 Income Statement To prepare the income statement we need to list all revenues and subtract all ... View the full answer
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date:
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