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