Data Table Estella Real Estate Appraisal Adjusted Trial Balance June 30, 2016 Balance Account Title Debit Credit Cash Accounts Receivable 4,300 5,100 1,800 1,700 Office Supplies Prepaid Insurance Building Accumulated Depreciation-Building Land 75,000 25,000 13,500 Accounts Payable 19,000 8,500 Interest Payable Salaries Payable 2,200 Unearned Revenue 1,700 37,000 Notes Payable (long-term) Estella, Capital Estella, Withdrawals 42,000 27,400 Service Revenue 49,000 4,700 32,000 Insurance Expense Salaries Expense Supplies Expense Interest Expense Utilities Expense 300 8,500 2,600 7,500 Depreciation Expense-Building Total 184,400 $ 184,400 Drint Dono X 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. 5. T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the T-accounts. 6. Prepare the company's post-closing trial balance at June 30, 2016. Print Done The adjusted trial balance of Estella Real Estate Appraisal at June 30, 2016, follows: Click the icon to view the adjusted trial balance) Read the requirements Requirement 1. Prepare the company's income statement for the year ended June 30, 2016. (If a box is not used in the statement leave the box empty, do not select a label or enter a zero. Use a minus sign or parentheses to show a net loss) Estella Real Estate Appraisal Income Statement Year Ended June 30, 2016 Net Income (Loss) Requirement 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. (Use a minus sign or parentheses to show a decrease in capital. Exclude any zero-balance events for the period from the statement of owner's equity) Estella Real Estate Appraisal Statement of Owner's Equity Year Ended June 30, 2016 Estella, Capital, July 1.2015 Estella, Capita, June 30, 2016 Requirement 3. Prepare the company's classified balance sheet in report form at June 30, 2016. (If a box is not used in the balance sheer, leave the box empty, do not select a label or enter a zero.) Estella Real Estate Appraisal Balance Sheet June 30, 2016 Assets Choose from any list or enter any number in the input fields and then continue to the next question. ? Requirement 3. Prepare the company's classified balance sheet in report form at June 30, 2016. (If a box is not used in the balance sheet, leave the box empty do not select a label or enter a zero.) Estella Real Estate Appraisal Balance Sheet June 30, 2016 Assets Less Liabilities Owner's Equity Requirement 4. Journalize the closing entries (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenues. Accounts and Explanation Debit Credit Jun 30 Clos (1) Date Choose from any list or enter any number in the input fields and then continue to the next question. Requirement 4. Journalize the closing entries (Record debits first then credits. Select the explanation on the last line of the journal entry table) Start by closing revenues Date Accounts and Explanation Debit Credit Jun 30 Clos (1) Close expenses for the period Date Accounts and Explanation Debit Credit Jun 30 Clos. (2) Accounts and Explanation Debit Credit Close Income Summary Date Jun 30 Clos (3) Close withdrawals. Date Accounts and Explanation Debit Credit Jun 30 Clos (4) Requirement 5. T-accounts have been opened using the balances from the adjusted trial balance Post the closing entries to the Taccounts Use "Clos' and the corresponding number as shown in the journal entry as posting references-Clos(1). "Clos (2)", etc. The adjusted balance of each account has been entered for you. Post any closing entries to the accounts and then calculate the post-closing balance ("Bal") of each account (including those that were not closed). For any accounts with a zero balance after closing, enter a 'O' on the normal side of the account. For Income Summary,calculate and enter the balance ("Bal.") before posting the entry to close out the account. Post the entry to close Income Summary account on the same line as you entered the balance prior to closing the second line) and then show the post-closing balance (Bal.") on the last third) line of the account Review the closing journal entries you prepared above. Cash Accounts Payable Service Revenue Bal 4,300 19,000 Bal 49.000 Bal Accounts Receivable Interest Payable Insurance Expense Bal 5.100 8,500 Bal Bal 4.700 Office Supplies 1.800 Salaries Payable 2.200 Bal Salaries Expense 32,000 Bal Bal Unearned Revenue Prepaid Insurance 1,700 Supplies Expense 300 Bal 1,700 Bal Bal Building Interest Expense Notes Payable 37,000 Bal Bal 75,000 Bal 8.500 Estella, Capital Utilities Expense Accumulated Depr.- Building 25,000 Bal 42.000 Bal Bal 2,600 Land Estella, Withdrawals 27.400 Depreciation Expense-Building Bal 13,500 Bal Bal 7,500 Income Summary Requirement 6. Prepare the company's post-closing trial balance at June 30, 2016 Review the ending balances of the T-accounts that you prepared in Requirement 5. Estella Real Estate Appraisal Post-Closing Trial Balance June 30, 2016 Balance Credit Account Title Debit Total Choose from any list or enter any number in the input fields and then continue to the next question, 2