Number 101 126 128 167 168 173 174 183 201 203 208 210 213 236 251 307 318 319 403 406 409 606 612 623 633 637 640 652 683 TYBALT CONSTRUCTION Adjusted Trial Balance December 31 Account Title Cash Supplies Prepaid insurance Equipment Accumulated depreciation-Equipment Building Accumulated depreciation-Building Land Accounts payable Interest payable Rent payable Wages payable Property taxes payable Unearned revenue Long-term notes payable Common stock Retained earnings Dividends Services revenue Rent revenue Interest revenue Depreciation expense-Building Depreciation expense-Equipment Wages expense Interest expense Insurance expense Rent expense Supplies expense Property taxes expense Totals Debit Credit $ 6,500 32,300 8,000 45,000 $ 22,500 168,000 56,000 66,630 15,000 2,500 3,900 2,700 1,300 15, 200 63,000 6,500 121,500 11,600 103,000 16,500 4,900 12,320 6,750 43,800 4,800 8,500 10,800 5,100 4,400 $ 434,500 $ 434,500 The Retained Earnings account balance was $121,500 on December 31 of the prior year. The Retained Earnings account balance was $121,500 on December 31 of the prior year. Required: 1a. Prepare the income statement for the current year ended December 31. 1b. Prepare the statement of retained earnings for the current year ended December 31. 1c. Prepare the classified balance sheet at December 31 of the current year. 2. Prepare the necessary closing entries at December 31 of the current year. TYBALT CONSTRUCTION Income Statement For Year Ended December 31 Revenues Total revenues $ 0 Expenses Total expenses 0 Required 1A Required 1B Required 1C Required 2 Prepare the statement of retained earnings for the current ye TYBALT CONSTRUCTION Statement of Retained Earnings For Year Ended December 31 Retained earnings, December 31 prior year 0 Retained earnings, December 31 current year $ 0 Required 1A Required 1B Required 1C Required 2 Prepare the classified balance sheet at December 31 of the current year. TYBALT CONSTRUCTION Balance Sheet December 31 $ 0 0 0 $ $ 0 0 $ 0 0 $ 0 0 $ 0 Record the entry to close the revenue account(s). Note: Enter debits before credits. General Journal Debit Credit Date December 31 Record entry Clear entry View general journal N u Record the entry to close the expense account(s). Note: Enter debits before credits. General Journal Debit Credit Date December 31 1 2. 4 Record the entry to close the Income summary account. Note: Enter debits before credits. General Journal Debit Credit Date December 31 Record entry Clear entry View general journal 1 2 3 4 Record the entry to close the dividends account. Note: Enter debits before credits. General Journal Debit Credit Date December 31 Record entry Clear entry View general journal