Crossway Rental Company’s unadjusted and adjusted trial balances at June 30, 2018, follow:

Requirements

1. Make the adjusting entries that account for the differences between the two trial balances.

2. Calculate Crossway’s total assets, total liabilities, net income, and total equity.

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A1 Crossway Rental Company Trial Balance Worksheet June 30, 2018 Adjusted Trial Balance Debit $ 8,400 6,850 1,000 4,800 200 2,000 66,600 Trial Balance Debit $ 8,400 6,100 2 3 Account 4 Cash 5 Accounts receivable 6 Interest receivable 7 Note receivable 8 Supplies 9 Prepaid insurance 10 Building 11 Accumulated depreciation-building 12 Accounts payable 13 Wages payable 14 Unearned rental revenue 15 Common stock 16 Retained earnings 17 Dividends 18 Rental revenue 19 Interest revenue 20 Depreciation expense–building 21 Supplies expense 22 Utilities expense 23 Wage expense 24 Property tax expense 25 Insurance expense 26 Total 27 Credit Credit 4,800 1,800 3,000 66,600 $ 7,300 7,000 $ 8,700 7,000 780 1,300 16,000 41,600 1,600 16,000 41,600 3,000 3,000 21,650 2,100 20,600 1,100 1,400 1,600 100 100 1,200 1,980 200 1,000 $ 99,130 200 $ 99,130 $ 95,200 $ 95,200