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Using Excel, complete the following requirements using the adjusted trial balance sheet. > Problems Group B Learning Objectives 1, 3, 4 P4-35B Preparing financial statements
Using Excel, complete the following requirements using the adjusted trial balance sheet.
> Problems Group B Learning Objectives 1, 3, 4 P4-35B Preparing financial statements including a classified balance sheet in report form, preparing and posting closing entries, and preparing a post-closing trial balance The adjusted trial balance of Rocket Real Estate Appraisal at June 30, 2018, follows: 1. Net Loss $(6,600) ROCKET REAL ESTATE APPRAISAL Adjusted Trial Balance June 30, 2018 Credit Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Accounts Payable Interest Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Rocket, Capital Rocket, Withdrawals Service Revenue Insurance Expense Salaries Expense Supplies Expense Interest Expense Utilities Expense Depreciation Expense-Building Total Balance Debit $ 5,000 5,500 1,600 1,700 12,800 71,000 $ 25,200 18,700 8,000 2,100 1,000 37,000 38,000 25,800 48, 100 4,100 32,000 600 8,000 2,900 7,100 $ 178, 100 $ 178, 100 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. Open the T-accounts using the balances from the adjusted trial balance, and post the closing entries to the T-accounts. 6. Prepare the company's post-closing trial balance at June 30, 2018
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