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Requirements 1. Prepare the company's income statement for the year ended June 30, 2018. 2. Prepare the company's statement of owner's equity for the year
Requirements 1. Prepare the company's income statement for the year ended June 30, 2018. 2. Prepare the company's statement of owner's equity for the year ended June 30,2018 . Assume that there were no contributions made by the owner during the year. 3. Prepare the company's classified balance sheet in report form at June 30, 2018. 4. Journalize the closing entries. 5. T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the T-accounts. 6. Prepare the company's post-closing trial balance at June 30, 2018. Elias Real Estate Appraisal Adjusted Trial Balance June 30, 2018 Balance \begin{tabular}{lrr} Account Title & Debit & Credit \\ Cash & $ & 5,000 \\ \hline Accounts Receivable & 4,900 \\ Office Supplies & 1,800 \\ Prepaid Insurance & 1,600 \\ Land & 12,600 \\ Buildina & 81.000 \end{tabular} Building 81,000 Accumulated Depreciation-Building Accounts Payable Interest Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Elias, Capital 42,000 Elias, Withdrawals 26,000 Service Revenue 48,900 Insurance Exnense 4.000 \begin{tabular}{lc} Insurance Expense & 4,000 \\ Salaries Expense & 33,800 \\ \hline Supplies Expense & 100 \\ Interest Expense & 8,900 \\ Utilities Expense & 2,100 \\ Depreciation Expense-Building & 8,100 \\ \hline Total & $189,900 \\ \hline \end{tabular}
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