Principles of Accounting I Your Name: Date Score Points Tutor Chapter 1 (part 1 of 4) Submitted Initials Written Cycle Project Instructor: Version 10 Instructions: Below is the adjusted trial balance for Able Advertising Inc. (1) Prepare an Income Statement, Statement of Retained Earnings, and a Balance Sheet (2) Then prepare closing entries, post them to t-accounts, and prepare a post-closing trial balance. Able Advertising Inc Adjusted Trial Balance August 31, 20xx Income Statement 519600 3500 500 700 5000 Cash Accounts Receivable Prepaid Insurance Advertising Supplies Equipment Accumulated Depe Accounts Payable Uneamed Revenge Interest Payable Notes Payable Common Stock Retained Eamings Dividends Advertising Revenue Depreciation Expense Insurance Experise Interest Expense Supplies Expense Uity Expense Total $ 125 1100 5000 30 3000 10000 0 2000 14500 125 250 30 1300 750 $33755 Statement of Retained Earnings 533755 Cash Accounts Receivable $3500 Prepaid Insurance $500 519600 Advertising Supplies 3700 Equipment 35000 Accum Depr -Equip $125 Accounts Payable 51100 Unearned Revenue 55000 Interest Payable 530 Notes Payable $3000 Common Stock $10000 Retained Earnings 50 Dividends Advertising Revenue $14500 $2000 Depreciation Expense 5125 Insurance Expense 5250 Interest Expense 530 Supplies Expense $1300 Utility Expense $750 Balance Sheet General Journal PR Debit Date Account Credit