Integrative Exercise 01 The Accounting Cyde Degin with the following account balances for University Street Parking Garage (assume all accounts have normal balances) at December 31, 2019 Accounts payable $16,700 39,200 Accounts receivable Accumulated depreciation (equipment) Cash Common stock (20,000 shares) Depreciation expense (equipment) Dividends 36,000 6,700 100,000 12,300 6,300 269,500 2,700 1,100 Equipment Income taxes excbense Income taxes payable Interest expense 16,500 Interest payable Interest income 4,100 4,900 Investments Notes payable (due May 2, 2025) Prepaid rent (4 months) 35,000 160,000 36,400 94,400 43,000 Rent expense Retained earnings, 12/31/2018 Service revenue parlang 224,600 Service revenue, repair Supplies expense 200,100 36,900 Wages expense 233,600 Wages payable Required: 1. For the following transactions, provide the necessary adjusting entries and update the account balances to appropriately reflect these adjusting entries: a University Street Parking rents space that requires a rental payment of $9,100 per month. University Street Parking has prepaid rent through March 31, 2020. b. At December 31, 2019, University Street Parking owes employees wages of $12,500. eBook Calculator b. At December 31, 2019, University Street Parking owes employees wages of $12,500. c. University Street Parking should have total depreciation expense on equipment for 2019 of $14,300. d. The note payable of $160,000 has an interest rate of 6.75%. University Street Parking has paid interest through October 31, 201 (Adjust rent) (Adjust wages) (Record depreciation) (Record interest) 2. Prepare a properly classified income statement for 2019 using the post-adjustment account balances. University Street Parking Garage Income Statement For the Year Ended December 31, 2019 Total revenue Operating expenses: EBOOK For the Year Ended December 31, 2019 Total revenue Operating expenses: Total operating expenses Other income (expense): Total other income (expense) Prepare a properly classified retained earnings statement for 2019 using the post-adjustment account balan University Street Parking Garage Retained Earnings Statement For the Year Ended December 31, 2019 Check My Work 2 more Check My Work uses remaining eBook Calculator For the Year Ended December 31, 2019 Prepare a properly classified balance sheet as of December 31, 2019 using the post-adjustment account balances University Street Parking Garage Balance Sheet December 31, 2019 Current assets Total current assets Total assets Labilities and Stockholders' Equity Current abilities: Check My Work 2 more Check My Work uses remaining eBook Calculator Total current assets Total assets Liabilities and Stockholders' Equity Current liabilities: Total current liabilities Long-term liabilities: Total liabilities Stockholders' equity: Total stockholders' equity Total liabilities and stockholders' equity