The adjusted trial balance for Tybalt Construction on December 31 of the current year follows, TYBALT CONSTRUCTION Adjusted Trial Balance December 31 Number Account Title Debit Credit 101 Cash $ 8,000 126 Supplies 31,500 128 Prepaid insurance 7,200 167 Equipment 50,000 168 Accumulated depreciation Equipment $ 25,000 173 Building 165,000 174 Accumulated depreciation-Building 55,000 183 Land 74,600 201 Accounts payable 17,500 203 Interest payable 2,400 208 Rent payable 3,500 210 Wages payable 2,100 213 Property taxes payable 1,300 236 Unearned revenue 14,500 251 Long-term notes payable 64,000 301 o. Tybalt, Capital 134,700 302 0. Tybalt, Withdrawala 13,000 404 Services revenue 104,000 406 Rent revenue 15,000 409 Interest revenue 4.600 606 Depreciation expense-Building 12,100 612 Depreciation expense-Equipment 7,500 623 Wages expense 41,800 633 Interest expense 4,700 637 Insurance expense 7,200 640 Rent expense 11,200 652 Supplies expense 6,300 683 Property taxes expense 3,500 Totals $ 443,600 $ 443,600 Oro Tybalt invested $8,000 cash in the business during the year. The O. Tybalt, Capital account balance was $126,700 on December 31 of the prior year. Renuired: Oro Tybalt invested $8,000 cash in the business during the year. The O. Tybalt, Capital account balance was $126,700 on December 31 of the prior year. Required: 1a. Prepare the income statement for the current year ended December 31. 1b. Prepare the statement of owner's equity for the current year ended December 31. 1c. Prepare the classified balance sheet at December 31 of the current year. 2. Prepare the necessary closing entries at December 31 of the current year. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1C Required 2 Prepare the income statement for the current year ended December 31. TYBALT CONSTRUCTION Income Statement For Year Ended December 31 Revenues Total revenues Expenses Required 1A Required 1B Required 1C Required 2 Prepare the income statement for the current year ended December 31. TYBALT CONSTRUCTION Income Statement For Year Ended December 31 Revenues Total revenues Expenses Total expenses Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1C Required 2 Prepare the statement of owner's equity for the current year ended December 31. TYBALT CONSTRUCTION Statement of Owner's Equity For Year Ended December 31 O. Tybalt, Capital, December 31 prior year O. Tybalt, Capital, December 31 current year Required 1A Required 1B Required 1C Required 2 Prepare the classified balance sheet at December 31 of the current year. TYBALT CONSTRUCTION Balance Sheet December 31 Required 1A Required 1B Required 10 Required 2 Prepare the necessary closing entries at December 31 of the current year. View transaction list Journal entry worksheet 1 2 3 > 4 Record the entry to close the revenue account(s). Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry Clear entry View general Journal
