Print 5. Cynthia Elmer. CPA, had the following partial worksheet: (Click the icon to view the partial worksheet.) Read the requirements? Requirement 1. Complete the worksheet. Complete the worksheet by preparing the Income Statement and Balance Sheet columns. Be sure to calculate the total debits and credits in each step. Cynthia Elmer, CPA Worksheet December 31, 2018 Income Adjusted Trial Balance Balance Sheet Statement Account Names Debit Credit Debit Credit Debit Credit Cash Accounts Receivable Office Supplies Prepaid Rent 46,900 13,300 300 4,700 35,000 125,000 Land $ 1,150 28,000 Building Accumulated Depreciation-Building Furniture Accumulated Depreciation Furniture Accounts Payable Utilities Payable Salaries Payable Interest Payable Unearned Revenue Notes Payable Common Stock Retained Earnings Dividends Service Revenue 2,000 3,500 710 4,200 500 3,700 15,000 118,000 118,090 29,000 100,000 23,300 32,200 Print 500 Rent Expense Salaries Expense Supplies Expense Utilities Expense Depreciation Expense-Building Depreciation Expense-Furniture 25,000 1,150 2,000 500 Interest Expense Total 366,850 $ 366,850 Net income or loss Requirement 2. Prepare the closing entries for Cynthia Elmer, CPA. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenues. Date Accounts and Explanation Debit Credit Dec. 31 Clos. (1) (2) (3) Close expenses for the period. Date Accounts and Explanation Debit Credit Dec. 31 Clos. (2) Close Income Surrimary. Print Date Accounts and Explanation Debit Credit (15) Dec. 31 Clos. (3) (17) (18) (19) Close Dividends. Date Accounts and Explanation Debit Credit (20) Dec. 31 Clos. (4) (22) (23) (24) 1: Data Table Cynthia Elmer, CPA Worksheet December 31, 2018 Adjustments Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit Account Names Unadjusted Trial Balance Debit Credit 46,900 9,600 h) $ 3,700 Cash Accounts Receivable Office Supplies Prepaid Rent Land 800 (b) S (a) 500 3,300 8,000 35,000 125,000 Adjusted Trial Balance Debit Credit $ 46,900 13,300 300 4,700 35,000 125,000 1,150 28,000 2,000 Building Accumulated Depreciation-Building Furniture c) 1,150 28,000 Accumulated Depreciation-Furniture (d) 2.000 $ 3,500 Print Accounts Payable Utilities Payable Salaries Payable 3,500 710 4,200 (8 (g) 4.200 500 1,300 500 3,700 5,000 (e) 15,000 118,000 118,090 15,000 118,000 118,090 29,000 29,000 Interest Payable Uncamned Revenue Notes Payable Common Stock Retained Earnings Dividends Service Revenue Rent Expense Salaries Expense Supplies Expense Utilities Experise Depreciation Expense-Building Depreciation Expense-Furniture 95,000 (e. h) 5,000 100,000 20,000 28,000 3,300 4,200 500 25,000 23,300 32,200 500 25,000 1,150 2,000 500 1,150 2,000 Interest Expense 500 355,300 $ 355,300 $ 16,650 $ 16,650 $ 366,850 S 366,850 Total 2: Requirements 1. 2. Complete the worksheet. Prepare the closing entries for Cynthia Elmer, CPA. (1) O O Accounts Payable Accounts Receivable Accumulated Depreciation-Building O Accumulated Depreciation - Furniture O Building O Cash Common Stock Depreciation Expense-Building Depreciation Expense-Furniture Dividends O Furniture Income Summary Interest Expense O Interest Payable O Land Notes Payable Office Supplies O Prepaid Rent O Rent Expense Retained Earnings O Salaries Expense O Salaries Payable Service Revenue Supplies Expense Unearned Revenue O Utilities Expense Utilities Payable (2) O Accounts Payable Accounts Receivable O Accumulated Depreciation-Building Accumulated Depreciation - Furniture O Building O Cash Common Stock Depreciation Expense-Building Depreciation Expense-Furniture O Dividends O Furniture Income Summary Interest Expense Interest Payable O Land Notes Payable Office Supplies O Prepaid Rent Rent Expense O Retained Earnings O Salaries Expense Salaries Payable Service Revenue Supplies Expense Unearned Revenue Utilities Expenso Utilities Payable (3) O Accounts Payable Accounts Receivable Accumulated Depreciation-Building O Accumulated Depreciation - Furniture O Building O Cash Common Stock Depreciation Expense-Building O Depreciation Expense-Furniture O Dividends O Furniture Income Summary Interest Expense Interest Payable Land Notes Payable Office Supplies O Prepaid Rent Rent Expense O Retained Earnings O Salaries Expense Salaries Payable Service Revenue Supplies Expens Print Unearned Revenue Utilities Expense Utilities Payable Accounts Payable Accounts Receivable O Accumulated Depreciation-Building O Accumulated Depreciation - Furniture O Building O Cash Common Stock O Depreciation Expense-Building Depreciation Expense-Furniture O Dividends O Furniture Income Summary O Interest Expense Interest Payable O Land Notes Payable Office Supplies O Prepaid Rent Rent Expense O Retained Earnings Salaries Expense Salaries Payable Service Revenue Supplies Expense Unearned Revenue O Utilities Expense Utilities Payable (5) O To close revenue. To close Dividends. To close expenses. To close Income Summary. (6) O Accounts Payable Accounts Receivable Accumulated Depreciation-Building O Accumulated Depreciation - Furniture O Building O Cash Common Stock Depreciation Expense-Building Depreciation Expense-Furniture O Dividends O Furniture Income Summary Interest Expense Interest Payable O Land Notes Payable Office Supplies O Prepaid Rent O Rent Expense Retained Earnings O Salaries Expense O Salaries Payable O Service Revenue Supplies Expense Unearned Revenue Utilities Expense O Utilities Payable (7) O O Accounts Payable O Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation - Furniture O Building O Cash Common Stock Depreciation Expense-Building O Depreciation Expense-Furniture O Dividends O Furniture Income Summary Interest Expense O Interest Payable O Land Notes Payable O Office Supplies O Prepaid Rent O Rent Expense Retained Earnings O Salaries Expense O Salaries Payable Service Revenue Supplies Expense Unearned Revenue Utilities Expense Utilities Payable (8) O Accounts Payable O Accounts Receivable Accumulated Depreciation-Building O Accumulated Depreciation - Furniture Building O Cash Common Stock Depreciation Expense-Building O Depreciation Expense-Furniture O Dividends O Furniture Income Summary Interest Expense Interest Payable Land Notes Payable O Office Supplies O Prepaid Rent O Rent Expense Retained Earnings O Salaries Expense Salaries Payable Service Revenue Supplies Expense Unearned Revenue Utilities Expense Utilities Payable (9) O O Accounts Payable O Accounts Receivable Accumulated Depreciation-Building O Accumulated Depreciation - Furniture O Building O Cash Common Stock Depreciation Expense-Building O Depreciation Expense-Furniture O Dividends O Furniture Income Summary Interest Expense Interest Payable O Land Notes Payable O Office Supplies O Prepaid Rent O Rent Expense Retained Earnings O Salaries Expense Salaries Payable Service Revenue Supplies Expense Unearned Revenue Utilities Expense Utilities Payable (10) O Accounts Payable Accounts Receivable O Accumulated Depreciation-Building Accumulated Depreciation - Furniture O Building Cash Common Stock Depreciation Expense-Building Depreciation Expense-Furniture O Dividends Furniture Income Summary Interest Expense O Interest Payable Land Notes Payable Retained Earnings Office Supplies O Salaries Expense O Prepaid Rent O Salaries Payable Rent Expense Service Revenue Supplies Expense Unearned Revenue O Utilities Expense Utilities Payable (11) O Accounts Payable Accounts Receivable O Accumulated Depreciation-Building O Accumulated Depreciation - Furniture Building O Cash Common Stock Depreciation Expense-Building O Depreciation Expanse-Furniture O Dividends O Furniture Income Surrimary Interest Expense O Interest Payable O Land Notes Payable Office Supplies O Prepaid Rent O Rent Expense O Retained Earnings O Salaries Expense O Salaries Payable Service Revenue O Supplies Expen Unearned Reve Print Utilities Expense O Utilities Payable (12) O Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation - Furniture Building O Cash Common Stock Depreciation Expense-Building Depreciation Expense-Furniture O Dividends O Furniture Income Surrimary Interest Expense Interest Payable Land Notes Payable Office Supplies O Prepaid Rent O Rent Expense Retained Earnings O Salaries Expense O Salaries Payable O Service Revenue O Supplies Expense Unearned Revenue Utilities Expense Utilities Payable (13) Accounts Payable O Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation - Furniture O Building O Cash Common Stock Depreciation Expense-Building Depreciation Expense-Furniture O Dividends O Furniture Income Summary Interest Expense Interest Payable Land Notes Payable O Office Supplies O Prepaid Rent Rent Expense Retained Earnings O Salaries Expense Salarles Payable O Service Revenue Supplies Expense Unearned Revenue Utilities Expense Utilities Payable (14) O To close revenue. To close Dividends. To close expenses. To close Income Surrimary. (15) O O Accounts Payable O Accounts Receivable O Accumulated Depreciation-Building Accumulated Depreciation - Furniture O Building O Cash Common Stock Depreciation Expense-Building Depreciation Expense-Furniture O Dividends O Furniture Income Summary Interest Expense O Interest Payable Land Notes Payable Retained Eamings O Supplies Expense Office Supplies O Salarles Expense Unearned Revenue O Prepaid Rent O Salaries Payable O Utilities Expense O Rent Expense Service Revenue Utilities Payable (16) O O Accounts Payable O Accounts Receivable O Accumulated Depreciation-Building Accumulated Depreciation - Furniture Building Cash Common Stock Depreciation Expense-Building O Depreciation Expense-Furniture O Dividends Furniture Income Summary Interest Expense Interest Payable Land Notes Payable O Office Supplies Prepaid Rent O Rent Expense O Retained Eamings O Salarles Expense Salaries Payable Service Revenue Supplies Expense Unearned Revenue Utilities Expenso Utilities Payable (17) O O Accounts Payable O Accounts Receivable Accumulated Depreciation-Building O Accumulated Depreciation - Furniture Building Cash Common Stock O Depreciation Expense-Building O Depreciation Expense-Furniture Dividends Furniture Income Summary Interest Expense Interest Payable Land Notes Payable O Office Supplies O Prepaid Rent O Rent Expense O Retained Eamings O Supplies Expense O Salaries Expense Unearned Revenue O Salaries Payable O Utilities Expanse Service Revenue O Utilities Payable (18) O O Accounts Payable O Accounts Receivable Accumulated Depreciation-Building O Accumulated Depreciation - Furniture O Building Cash Common Stock Depreciation Expense-Building Depreciation Expense - Furniture Dividends Furniture Income Summary Interest Expense Interest Payable Land Notes Payable Office Supplies Prepaid Rent O Rent Expense O Retained Eamings O Supplies Expense O Salaries Expense Unearned Revenue Salaries Payable Utilities Expense Service Revenue O Utilities Payable O (19) O To close revenue. To close Dividends. To close expenses. To close Income Summary. (20) O O Accounts Payable O Accounts Receivable Accumulated Depreciation - Building Accumulated Depreciation - Furniture O Building O Cash Common Stock Depreciation Expense-Building O Depreciation Expense-Furniture O Dividends O Furniture Income Summary Interest Expense Interest Payable Land Notes Payable Office Supplies O Prepaid Rent Rent Expense Retained Earnings O Salaries Expense O Salarles Payable Service Revenue Supplies Expense Unearned Revenue Utilities Expense Utilities Payable (21) O O Accounts Payable O Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation - Furniture O Building O Cash Common Stock Depreciation Expense-Building Depreciation Expense-Furniture Dividends O Furniture Income Summary Interest Expense O Interest Payable Land Notes Payable Retained Eamings Office Supplies O Salaries Expense O Prepaid Rent O Salaries Payable O Rent Expense Service Revenue O Supplies Expense Unearned Revenue Utilities Expense Utilities Payable (22) O O Accounts Payable O Accounts Receivable O Accumulated Depreciation-Building O Accumulated Depreciation - Furniture Bullding O Cash Common Stock Depreciation Expense-Building O Depreciation Expense-Furniture O Dividends Furniture Income Summary Interest Expense Interest Payable Land Notes Payable O Retained Eamings Office Supplies O Salarles Expense O Prepaid Rent O Salaries Payable O Rent Expense Service Revenue O Supplies Expense Unearned Revenue O Utilities Expense Utilities Payable (23) O Accounts Payable O Accounts Receivable O Accumulated Depreciation-Building O Accumulated Depreciation - Furniture O Building Cash Common Stock Depreciation Expense-Building Depreciation Expense-Furniture O Dividends Furniture Income Summary Interest Expense Interest Payable Land Notes Payable O Office Supplies O Prepaid Rent O Rent Expense O Retained Eamings O Salaries Expense Salaries Payable Service Revenue Supplies Expense Unearned Revenue Utilities Expense O Utilities Payable (24) O To close revenue. To close Dividends. To close expenses. To close Income Summary