1.INCOME STATEMENT , STATEMENT OF EQUITY

2. CLOSING ENTRIES

3.CLOSING TRIAL BALANCE

790 $770 3,840 H Company's unadjusted trial balance for the current year follows: H Company Trial Balance December 31 Cash $7,200 Prepaid property insurance 2,400 Prepaid life insurance 3,000 Shop supplies Shop equipment 3,860 Accumulated depreciation - equipment Building 59,500 Accumulated depreciation-building Land 55,000 Unearned rent Accounts payable Long-term notes payable Common stock Retained earnings Rent earned Fees earned Wages expense 3,200 Utilities expense 690 Property taxes expense 600 Interest expense 4,350 Total $140,590 7,600 3,720 50,000 1,000 47,860 2,400 23,400 $140,590 Unadjusted TB Debit Credit 7,200 Adjusting Entries Debit Credit 200 ID 2,400 3,000 790 3,860 1,450 1,040 580 a b 770 350 C 59,500 3,840 2,020 d 55,000 Adjusted TB Debit Credit 7,200 200 950 1,960 210 3,860 1,120 59,500 5,860 55,000 2,800 3,720 600 1,100 450 1,000 50,000 1,000 47,860 7,400 23,400 7,600 4,800 f H Company Account Names Cash Rent Receivable Prepaid Property Insurance Prepaid Life Insurance Shop Supplies Shop Equipment Accumulated Depreciation - Equipment Buildings Accumulated Depreciation - Buldings Land Uneanred Rent Accounts Payable Interest Payable Wages Payable Property Taxes Payable Utilities Payable Long term Notes Payable Common Stock Retained Earnings Rent earned Fees earned Wages expense Utilities expense Property Taxes expense Interest expense Life Insurance expense Property Insurance expense Shop Supplies expense Depreciation expense - Buildings Depreciation expense - Equipment Totals 3,720 6001 1,100 gk 450 h 1,000 m 50,000 1,000 47,860 2,400 23,400 5,000 ef gk 4,300 m 3,200 690 600 4,350 1,100 1,000 450 600 1,040 1,450 580 2,020 350 13,590 h j a i b d 1,690 1,050 4,950 1,040 1,450 580 2,020 350 146,310 140,590 140,590 13,590 146,310