The unadjusted trial balance of Paca Investment Advisers at December 31, 2025, follows:

Adjustment data at December 31, 2025: 

a. Unearned Revenue earned during the year, $400. 

b. Supplies on hand, $5,000. 

c. Depreciation for the year, $4,000. 

d. Accrued Salaries Expense, $2,000. 

e. Accrued Service Revenue, $3,000.  

Requirements 

1. Prepare a worksheet for Paca Investment Advisers at December 31, 2025. 

2. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in report format. 

3. Prepare closing entries.

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PACA INVESTMENT ADVISERS Unadjusted Trial Balance December 31, 2025 Account Title Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Common Stock Retained Earnings Dividends Service Revenue Insurance Expense Salaries Expense Supplies Expense Interest Expense Rent Expense Depreciation Expense-Equipment Total Balance Debit $ 28,000 50,000 8,000 26,000 50,000 4,000 32,000 7,000 7,000 $ 212,000 Credit $ 16,000 14,000 1,000 44,000 30,000 10,000 97,000 $ 212,000