P4-4A Vang Management Services began business on January 1, 2017, with a capital investment of $120,000. The company manages condominiums for owners (Service Reve- nue) and rents space in its own office building (Rent Revenue). The trial balance and adjusted trial balance columns of the worksheet at the end of the first year are as follows. VANG MANAGEMENT SERVICES Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Trial Balance Account Titles Dr. Cr. Dr. Cr. Cash 13,800 13,800 Accounts Receivable 28,300 28,300 Prepaid Insurance 3,600 2,400 Land 67,000 67,000 Buildings 127,000 127,000 Equipment 59,000 59,000 Accounts Payable 12,500 12,500 Unearned Rent Revenue 6,000 1,500 Mortgage Payable 120,000 120,000 Owner's Capital 144,000 144,000 Owner's Drawings 22,000 22,000 Service Revenue 90,700 90,700 Rent Revenue 29,000 33,500 Salaries and Wages Expense 42,000 42,000 Advertising Expense 20,500 20.500 Utilities Expense 19,000 19,000 Totals 402,200 402,200 Trial Balance Dr. Cr. Account Titles Insurance Expense Depreciation Expense Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Interest Expense Interest Payable Totals Adjusted Trial Balance Dr. Cr. 1,200 6,600 3,000 3,600 10,000 10,000 418,800 418,800 Instructions (a) Prepare a complete worksheet. (b) Prepare a classified balance sheet. (Note: $30,000 of the mortgage note payable is due for payment next year.) (c) Journalize the adjusting entries. (d) Journalize the closing entries. (e) Prepare a post-closing trial balance