The adjusted trial balance for Tybalt Construction on December 31 of the current year TYBALT CONSTRUCTION Adjusted Trial Balance Number Account Title December 31 101 Cash Debit Credit 126 Supplies $ 5,000 128 Prepaid insurance 30,300 167 Equipment 9,000 168 173 Building Accumulated depreciation-Equipment 40,000 $ 20,000 165,000 174 183 Accumulated depreciation-Building 55,000 Land 72,000 201 Accounts payable 15,000 203 Interest payable 2,000 208 Rent payable 3,400 210 Wages payable 2,000 213 Property taxes payable 1,400 236 Unearned revenue 14,700 251 Long-term notes payable 60,000 307 Common stock 5,000 318 Retained earnings 125,100 10,800 319 Dividends 101,000 403 Services revenue 16,000 406 Rent revenue. 4,100 409 Interest revenue 606 Depreciation expense-Building 12,100 612 Depreciation expense-Equipment 6,000 40,600 623 Wages expense 3,500 633 Interest expense 9,100 637 Insurance expense 11,100 640 Rent expense 6,100 652 683 Supplies expense 4,100 Property taxes expense $424,700 $ 424,700 Totals The Retained Earnings account balance was $125,100 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 retained earnings 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 tinn by entering your answers in the tabs below. TYBALI CONSTRUCTION Balance Sheet December 31 of Cosmetic... > Making cosmetics SwiftCraftyMonkey Lotioncrafter oring Enabled: Test 1 (Mods. 1-3) i 28 Required 1A Required 1B Required 1C Required 2 oints 03:22-21 23F Clear Mc Graw Hill Formulator Sample... Ingres Prepare the necessary closing entries at December 31 of the current year. View transaction list Journal entry worksheet 2 3 4 Record the entry to close the revenue account(s). W Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal < Required 1C Required 2 > < Prev 28 o am Q Search