Problem 3 J.V. Company prepared the following end-of period spreadsheet at December 31, 2019, the end of the fiscal year G Hi B C D E Unadjusted Trial Balance Debit 40,000 Adjusting Entries Credit Adjusted Trial Balance 1 Debit Credit Credit Debit 2 0 3 Cash 35,000 4 Accounts Receivable 5 Prepaid Insurance 6 Supplies 7 Land 15,000 20,000 a 4,000 11,000 15,000- 80,000- 150.000 20,000 60,000 150,000 200,000 200,000 8 Building 9 Accum. Depr.-Building 10 Accounts Payable 11 Wages Payable 12 Unearned Fees 25,000 20,000 d 5,000 25,000 32,000 30,000 25,000 12,000 20,000 e 30,000 335,000 335,000 13 B.Z. Co Capital 14 B.7. Co Drawing 20,000 20,000 315,000 15,000 300,000 a 15 Fees earmed 62,000 12,000 50,000 16 Wages Expense 17 Utilities Expense e 40,000 40,000 41.000 b 11,000 18 Insurance Expense 19 Supplies Expense 20 Depreciation Expense 21 Misc. Expense 30,000 80,000 60,000 20,000 50,000 c 55,000 d 5,000 15,000 15,000 730,000 762,000 762,000 103,000 103,000 730,000 22 Instructions 1. Prepare an income statement for the year ended December 31 2. Prepare a statement of owner's equity for the year ended December 31 3. Prepare a balance sheet as of December 31 4. Journalize the closing entries