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1-)(30 pts.)The adjusted trial balance of Estella Real Estate Appraisal at June 30, 2016, follows: ESTELLA REAL ESTATE APPRAISAL Adjusted Trial Balance June 30,
1-)(30 pts.)The adjusted trial balance of Estella Real Estate Appraisal at June 30, 2016, follows: ESTELLA REAL ESTATE APPRAISAL Adjusted Trial Balance June 30, 2016 Balance Account Title Debit Credit Cash 4,600 Accounts Receivable 5,300 Office Supplies 1,500 Prepaid Insurance 1,600 Building 77,000 Accumulated Depreciation-Building $ 26,000 Land 13,500 19,300 Accounts Payable 8,400 Interest Payable 1,900 Salaries Payable Unearned Revenue 5,300 Notes Payable (long-term) 37,000 Estella, Capital 40,000 Estella, Withdrawals 27,200 48,900 Service Revenue Insurance Expense 4,300 Salaries Expense 33,000 Supplies Expense 200 Interest Expense 8,400 Utilities Expense 2,500 Depreciation Expense-Building 7,700 Total $186,800 $ 186,800 Requirements 1. Prepare the company's income statement for the year ended June 30, 2016. 2. 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. 3. Prepare the company's classified balance sheet in report form at June 30, 2016. 4. Journalize the closing entries.
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