Three years ago, T. Roderick organized Harbor Realty. At July 31, 20Y6, the end of the fiscal year, the following end-of-period spreadsheet was prepared:

Instructions 1. Prepare an income statement, a statement of stockholders’ equity, and a balance sheet.
No additional common stock was issued during 20Y6.
2. On the basis of the data in the end-of-period spreadsheet, journalize the closing entries.

Transcribed Image Text:

1 24557- 3 A 6 Account Title 7 8 Cash 9 Accounts Receivable 10 Supplies 11 Prepaid Insurance 12 Office Equipment 13 Accumulated Depreciation 14 Accounts Payable 15 Unearned Fees 16 Wages Payable 17 Common Stock 18 Retained Earnings 19 Dividends 20 Fees Earned 21 22 Wages Expense 23 Depreciation Expense 24 Rent Expense 25 Utilities Expense 26 Supplies Expense 27 Insurance Expense 28 Miscellaneous Expense 29 30 B Harbor Realty End-of-Period Spreadsheet For the Year Ended July 31, 20Y6 Un adjusted Trial Balance Dr. Cr. 3,425 7,000 1,270 620 51,650 5,200 22,415 4,200 2,715 9,700 925 1,250 5,000 24,000 D 59,125 Adjustments Dr. 1,000 500 440 4,950 890 315 E 1,505 100,000 100,000 8,095 Cr. 890 315 4,950 440 1,000 500 F Adjusted Trial Balance Dr. Cr. 3,425 8,000 380 305 51,650 G 5,200 14,650 925 7:50 440 5,000 24,000 60,625 22,855 4,950 4,200 2,715 890 315 1,505 8,095 106,390 106,390