The balance sheet that follows was prepared for Valleyview Realty at the end of its annual accounting period.

After completing the balance sheet, Valleyview Realty's accountant prepared and posted the following adjusting and closing entries for the concern.

Enter the relevant information from the balance sheet and the adjusting and closing entries on a work sheet form and complete the work sheet by working backward to the items that appeared in its Unadjusted Trial Balance columns.

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VALLEYVIEW REALTY Balance Sheet December 31, 1990 Assets Current assets: Cash. Prepaid insurance. Office supplies Total current assets Plant and equipment: Office equipment $ 7,860 Less accumulated depreciation Automobile Less accumulated depreciation $ 2,285 750 165 $ 3,200 1,515 $ 6,345 $18,600 4,050 14,550 Total plant and equipment Total assets. Current liabilities: Accounts payable 20,895 $24,095 Liabilities $ 315 375 270 $ 960 Unearned property management fees Salaries payable. Total liabilities... Owner's Equity Gail Banks, capital, December 31, 1990 Total liabilities and owner's equity. 23,135 $24,095