DENVER ARCHITECTS, INC.

Adjusted Trial Balance

December 31, 2018

Debit Credit

D $90,000

Accounts Receivable

D20,000

Interest Receivable

D200

Notes Receivable

D4,000

Prepaid Insurance

D960

Prepaid Rent

D2,400

Supplies on Hand

D600

Equipment

D60,000

Accumulated DepreciationEquipment

C$12,500

Buildings

D140,000

Accumulated DepreciationBuildings

C15,000

Land

D56,240

Accounts Payable

C60,000

Notes Payable

C10,000

Interest Payable

C750

Salaries Payable

C7,000

Capital Stock

C100,000

Retained Earnings, January 1, 2018

C20,200

Dividends

D40,000

Service Revenue

C360,000

Insurance Expense

D1,920

Rent Expense

D9,600

Advertising Expense

D1,200

Depreciation ExpenseEquipment

D2,500

Depreciation ExpenseBuildings

D3,000

Supplies Expense

D2,280

Salaries ExpensDe

D150,000

Interest Expense

D750

Interest Revenue

C200

$585,650

$585,650

a.

Preparing the income statement.

b.

Preparing the statement of retained earnings.

c.

making a classified balance sheet.

d.

Making the closing journal entries.