HEMPSTEAD REALTY Trial Balance March 31, 2001 S Cash Accounts Receivable Orice Supplies Land Buicing Accumulated Depreciation Building Office Equipment Accumulated Depreciation: Office Equipment Accounts Payable M. Valentino, Capital M. Valentino, Drawing Commissions Earned Advertising Expense Automobile Rental Expense Salaries Expense Telephone Expense -- $ 9.750 7.500 850 30.000 90.000 500 21 000 700 14.750 136.650 4.500 20.000 900 500 7.000 600 S172.600 S:T2.500 Instructions From the trial balance and supplementary data given, prepare the following as of March 31. 2001: a. Adjusting entries for depreciation during March of building and of office equipment b. Adjusting entry to recognize as expense the cost of office supplies used in March. At the end of March, the supplies on hand are estimated to have a cost of $500. c. Adjusted trial balance. d. Income statement and a statement of owner's equity for the month of March, and a balance sheet at March 31 in report form. Assume no additional investments by owner during March e. Closing entries. 1. After-closing trial balance