Requirement 5. T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the T-accounts. Use "Clos. and the corresponding number as shown in the journal entry as posting references Clos.(1)", "Clos.(2). etc. The adjusted balance of each account has been entered for you. Post any closing entries to the accounts and then calculate the post-closing balance (Bal.) of each account (including those that were not closed). For any accounts with a zero balance after closing, enter a "O" on the normal side of the account. For Income Summary, calculate and enter the balance Bal." before posting the entry to close out the account. Post the entry to close Income Summary account on the same line as you entered the balance prior to closing (the second line) and then show the post-closing balance Bal. on the last (third) line of the account. Review the closing journal entries you prepared above Cash Accounts Payable Service Revenue Bal 5,000 19,600 Bal 47,800 Bal Bal, 1 Bal Data Table Eldrich Real Estate Appraisal Adjusted Trial Balance June 30, 2018 Balance Account Title Debit Credit Cash Accounts Receivable Office Supplies Prepaid Insurance Land Building Accumulated Depreciation- -Building 5,000 4,900 2,100 2,500 12,800 78,000 26,400 | 19,600 8,600 1,800 Accounts Payable Interest Payable Salaries Payable nt Print Done The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018., olows Read the requiremects Requirement 1. Prepare the company's income statement for the year ended June 30, 3018. ( a box is not used in the the icon to view the adjusted tial balance ) statement, leave the box empty, do not select a label or enter a zero. Use minus sign or parertheses to show a net loss) Eldrich Real Estate Appraisal Year Ended June 30, 2018 Choose from any list or enter any number in the irnput fieids and then continue to the next question The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows: Click the icon to view the adjusted trial balance.) Read the requirements. income Statement Year Ended June 30, 2018 Total Assets Net Income (Loss) Choose from any list or enter any number in the input fields and then continue to the next question. The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows EEB (Click the loon to view the adjusted triail balance) Read the requirements Requirement 2. Prepare the company's statement of retained earnings for the year ended June 30, 2018. (Use a minus sign or parentheses to show a net loss) Eldrich Real Estate Appraisal Statement of Retained Earnings Year Ended June 30, 2018 Retained Earnings, July 1, 2017 Retained Eamings, June 30, 2018 Requirement 3.Prepare the company's classified balance sheet in report form at June 30, 2018. (f a box is not used in the balance sheet, leave the box empty, do not select a label or enter a zero.) Eldrich Real Estate Appraisal Balance Sheet June 30, 2018 Assets The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows: (Click the icon to view the adjusted trial balance.) Read the requirements Eldrich Real Estate Appraisal Balance Sheet June 30, 2018 Assets Land Building Accumulated Depreciation-Building Less: Choose from any list or enter any number in the inout fialde and h The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows: (Click the icon to view the adjusted trial balance.) Read the requirements. Less: Liabilities Long-term Liabilities: Notes Payable e adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows: B(Click the icon to view the adjusted trial balance.) ad the reguirements Stockholders' Equity Requirement 4. Jounalize the closing entries. (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 Jun. 30 Clos. (1) Choose from any list or enter any number in the input fields and then continue to the next question. The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows: EEB (Click the icon to view the adjusted trial balance) Read the reguirements Stockholders' Equity the explanation on the last Ine of the journal entry table) Requirement 4. Jounalize the Start by closing revenues closing entries. (Record debits first, then credits. Select Debit Credit Date Accounts and Explanation Jun. 30 Clos. (1) ntinue to the next question The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows: EB (Click the icon to view the adjusted trial balance.) Read the requirements Close expenses for the period. Date Accounts and Explanation Debit Credit Jun. 30 Clos. (2) Close Income Summary. Date Accounts and Explanation Debit Credit Jun. 30 Clos. (3) Choose from any list or enter any number in the input fields and then continue to the next question. e adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows: B(Click the icon to view the adjusted trial balance.) ead the requirements. lose Income Summary. Date Accounts and Explanation Debit Credit Jun. 30 Clos. (3) Close Dividends. Date Accounts and Explanation Debit Credit Jun. 30 Clos. (4) The adusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, ollows 0 iI (Cick the icon to view the ajushed tral balance ) the last (Thied) line ofthe aocourt Review the closing joumal entries you prepered above Ascounts Payable Attounts .ceivable nsurance Expense Office Supplies res Payable alres Expense The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows: EB (Click the icon to view the adjusted trial balance.) Read the requirements Income Summary Requirement 6. Prepare the company's post-closing trial balance at June 30, 2018. Review the ending balances of the T-accounts that you prepared in Requirement 5. Eldrich Real Estate Appraisal Post-Closing Trial Balance June 30, 2018 Balance Account Title Debit Credit The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows EB (Click the icon to view the adjusted trial balance.) Read the requirements Total Choose from any list or enter any number in the input fields and then continue to the nex equirement 1. Prepare the company's income statement Eldrich Real Estate Appra Income Statement Year Ended June 30, 201 Expenses Revenues: Total Assets Total Expenses Total Liabilities Total Liabilities and Stockholders' Equity Accounts Payable Accounts Receivable 2018, f The adj Accumulated Depreciation-Building (Cli Building Read th Cash Common Stock Reguirs Depreciation Expense- Building RequirDividends ended Insurance Expense Interest Expense Interest Payable Land Notes Payable Office Supplies Prepaid Insurance Retained Earnings Salaries Expense Salaries Payable Service Revenue Supplies Expense Unearned Revenue Utilities Expense Eldrich Real Estate Appraisal Statement of Retained Earnings Year Ended June 30, 2018 Retained Earnings, July 1, 2017 Dividends Expenses for the month l Issuance of stock lee Net income for the year Net loss for the year Revenues for the year rai June 30, 2U7 nds To close Dividends. To close expenses. To close Income Summary To close revenue. De Requirement 5. T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the T-accounts. Use "Clos. and the corresponding number as shown in the journal entry as posting references Clos.(1)", "Clos.(2). etc. The adjusted balance of each account has been entered for you. Post any closing entries to the accounts and then calculate the post-closing balance (Bal.) of each account (including those that were not closed). For any accounts with a zero balance after closing, enter a "O" on the normal side of the account. For Income Summary, calculate and enter the balance Bal." before posting the entry to close out the account. Post the entry to close Income Summary account on the same line as you entered the balance prior to closing (the second line) and then show the post-closing balance Bal. on the last (third) line of the account. Review the closing journal entries you prepared above Cash Accounts Payable Service Revenue Bal 5,000 19,600 Bal 47,800 Bal Bal, 1 Bal Data Table Eldrich Real Estate Appraisal Adjusted Trial Balance June 30, 2018 Balance Account Title Debit Credit Cash Accounts Receivable Office Supplies Prepaid Insurance Land Building Accumulated Depreciation- -Building 5,000 4,900 2,100 2,500 12,800 78,000 26,400 | 19,600 8,600 1,800 Accounts Payable Interest Payable Salaries Payable nt Print Done The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018., olows Read the requiremects Requirement 1. Prepare the company's income statement for the year ended June 30, 3018. ( a box is not used in the the icon to view the adjusted tial balance ) statement, leave the box empty, do not select a label or enter a zero. Use minus sign or parertheses to show a net loss) Eldrich Real Estate Appraisal Year Ended June 30, 2018 Choose from any list or enter any number in the irnput fieids and then continue to the next question The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows: Click the icon to view the adjusted trial balance.) Read the requirements. income Statement Year Ended June 30, 2018 Total Assets Net Income (Loss) Choose from any list or enter any number in the input fields and then continue to the next question. The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows EEB (Click the loon to view the adjusted triail balance) Read the requirements Requirement 2. Prepare the company's statement of retained earnings for the year ended June 30, 2018. (Use a minus sign or parentheses to show a net loss) Eldrich Real Estate Appraisal Statement of Retained Earnings Year Ended June 30, 2018 Retained Earnings, July 1, 2017 Retained Eamings, June 30, 2018 Requirement 3.Prepare the company's classified balance sheet in report form at June 30, 2018. (f a box is not used in the balance sheet, leave the box empty, do not select a label or enter a zero.) Eldrich Real Estate Appraisal Balance Sheet June 30, 2018 Assets The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows: (Click the icon to view the adjusted trial balance.) Read the requirements Eldrich Real Estate Appraisal Balance Sheet June 30, 2018 Assets Land Building Accumulated Depreciation-Building Less: Choose from any list or enter any number in the inout fialde and h The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows: (Click the icon to view the adjusted trial balance.) Read the requirements. Less: Liabilities Long-term Liabilities: Notes Payable e adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows: B(Click the icon to view the adjusted trial balance.) ad the reguirements Stockholders' Equity Requirement 4. Jounalize the closing entries. (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 Jun. 30 Clos. (1) Choose from any list or enter any number in the input fields and then continue to the next question. The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows: EEB (Click the icon to view the adjusted trial balance) Read the reguirements Stockholders' Equity the explanation on the last Ine of the journal entry table) Requirement 4. Jounalize the Start by closing revenues closing entries. (Record debits first, then credits. Select Debit Credit Date Accounts and Explanation Jun. 30 Clos. (1) ntinue to the next question The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows: EB (Click the icon to view the adjusted trial balance.) Read the requirements Close expenses for the period. Date Accounts and Explanation Debit Credit Jun. 30 Clos. (2) Close Income Summary. Date Accounts and Explanation Debit Credit Jun. 30 Clos. (3) Choose from any list or enter any number in the input fields and then continue to the next question. e adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows: B(Click the icon to view the adjusted trial balance.) ead the requirements. lose Income Summary. Date Accounts and Explanation Debit Credit Jun. 30 Clos. (3) Close Dividends. Date Accounts and Explanation Debit Credit Jun. 30 Clos. (4) The adusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, ollows 0 iI (Cick the icon to view the ajushed tral balance ) the last (Thied) line ofthe aocourt Review the closing joumal entries you prepered above Ascounts Payable Attounts .ceivable nsurance Expense Office Supplies res Payable alres Expense The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows: EB (Click the icon to view the adjusted trial balance.) Read the requirements Income Summary Requirement 6. Prepare the company's post-closing trial balance at June 30, 2018. Review the ending balances of the T-accounts that you prepared in Requirement 5. Eldrich Real Estate Appraisal Post-Closing Trial Balance June 30, 2018 Balance Account Title Debit Credit The adjusted trial balance of Eldrich Real Estate Appraisal at June 30, 2018, follows EB (Click the icon to view the adjusted trial balance.) Read the requirements Total Choose from any list or enter any number in the input fields and then continue to the nex equirement 1. Prepare the company's income statement Eldrich Real Estate Appra Income Statement Year Ended June 30, 201 Expenses Revenues: Total Assets Total Expenses Total Liabilities Total Liabilities and Stockholders' Equity Accounts Payable Accounts Receivable 2018, f The adj Accumulated Depreciation-Building (Cli Building Read th Cash Common Stock Reguirs Depreciation Expense- Building RequirDividends ended Insurance Expense Interest Expense Interest Payable Land Notes Payable Office Supplies Prepaid Insurance Retained Earnings Salaries Expense Salaries Payable Service Revenue Supplies Expense Unearned Revenue Utilities Expense Eldrich Real Estate Appraisal Statement of Retained Earnings Year Ended June 30, 2018 Retained Earnings, July 1, 2017 Dividends Expenses for the month l Issuance of stock lee Net income for the year Net loss for the year Revenues for the year rai June 30, 2U7 nds To close Dividends. To close expenses. To close Income Summary To close revenue. De