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The adjusted trial balance of Elias Real Estate Appraisal at June 30, 2020, follows: ELIAS REAL ESTATE APPRAISAL Adjusted Trial Balance June 30, 2020 Account

The adjusted trial balance of Elias Real Estate Appraisal at June 30, 2020, follows:

ELIAS REAL ESTATE APPRAISAL

Adjusted Trial Balance

June 30, 2020

Account Title

Debit

Credit

Cash

$4,900

Accounts Receivable

5,300

Office Supplies

2,400

Prepaid Insurance

1,800

Building

74,400

Accumulated Depreciation Building

$26,700

Land

13,600

Accounts Payable

19,500

Interest Payable

8,800

Salaries Payable

2,200

Unearned Revenue

1,300

Notes Payable (long-term)

40,000

Common Stock

2,000

Retained Earnings

38,500

Dividends

27,900

Service Revenue

48,200

Insurance Expense

4,500

Salaries Expense

33,300

Interest Expense

8,800

Depreciation Expense Building

7,500

Supplies Expense

600

Utilities Expense

2,200

Total

$187,200

$187,200

Requirements

  1. Prepare the companys income statement for the year ended June 30, 2020.
  2. Prepare the companys statement of retained earnings for the year ended June 30, 2020.
  3. Prepare the companys classified balance sheet in report form at June 30, 2020.

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