The adjusted trial balance of Rocket Real Estate Appraisal at June 30, 2024, follows:

 

Requirements 

1. Prepare the company’s income statement for the year ended June 30, 2024.

2. Prepare the company’s statement of owner’s equity for the year ended June 30, 2024.

3. Prepare the company’s classified balance sheet in report form at June 30, 2024.

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, 2024.

Transcribed Image Text:

ROCKET REAL ESTATE APPRAISAL Adjusted Trial Balance June 30, 2024 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 25,800 4,100 32,000 600 8,000 2,900 7,100 $ 178,100 Credit $ 25,200 18,700 8,000 2,100 1,000 37,000 38,000 48,100 $ 178,100