P4-27A Preparing financial statements including a classified balance sheet in report form, preparing and posting closing entries, and preparing a post-closing trial balance.

Learning Objectives 1,3,4 P427A Preparing financial statements indading aclassified balance sheet in report form, preparing and posting closing entries, and preparing post-closing trial balance The adjusted trial balance of Elias Real Esate Appraisal at June 30, 2014, follows et Loss $18,700) ELIAS REAL ESTATE APPRAISAL Adjusted Trial Balance June 30, 2014 Debit Credit Account Title 4900 Accounts Recesable 300 Ofice Supples 2400 Prepaid Insucanc 4 400 26700 Accumulated Depreciation-Buidmg 3.600 Accounts Paya ierest Payable Salanies Payable 9500 800 2200 Uneamed Revene Eas, Capital 0 500 7 900 Service Revenue 500 hsurance Expene Salaries Expenier 3.300 Supplies Expene 500 nterest Expense 200 Depreciation Expense-Building 500 187200 187,200 otal 5,300 Accounts Recewable Office Supplies 2400 Prepaid Insurance 1800 Building 74400 S 26,700 Accumulated Depreciation- Building 13,600 Land Accounts Payable 19,500 Interest Payable 8,800 Salanes Payable 2,200 Unearned Revenue 1.300 Notes Payable (lang-term 40,000 Elas, Capital 40,500 Elas, Withdrawals 27,900 Service Revenue 48,200 Insurance Expense 4,500 33,300 Salaries Expenise 600 Supplies Expense Interest Expense 8800 Utiities Expense 2,200 7,500 Depreciation Expense-Buldng Total S 187 200 17 200 Requirements I. Prepare the company's income statement for the year ended June 30, 2014 2. Prepare the company's statement of owner's equity for the year ended June 30 2014. Assume that there were no contributions made by the owner during the year. P4-27A Requirement 1 ELIAS REAL ESTATE APPRAISAL Income Statement Year Ended June 30, 2014 Revenues Total Expenses Net Income or Net Loss Requirement 2 ELIAS REAL ESTATE APPRAISAL Statement of Owner's Equity Year Ended June 30, 2014