The adjusted trial balance of Rocket Real Estate Appraisal at June 30, 2023, follows:

Required

1. Journalize the closing entries.

2. Open the T-accounts using the balances from the adjusted trial balance and post the closing entries to the T-accounts.

3. Prepare the company’s post-closing trial balance at June 30, 2023.

Transcribed Image Text:

Account Title Cash ROCKET REAL ESTATE APPRAISAL Adjusted Trial Balance June 30, 2023 Accounts receivable Office supplies Prepaid insurance Land Building Accumulated amortization-building Accounts payable Interest payable Salaries payable Unearned revenue Notes payable (long-term) N. Rocket, capital N. Rocket, withdrawals Service revenue Insurance expense Salaries expense Supplies expense Interest expense Utilities expense Amortization expense-building Total Debit $ 5,000 5,500 1,600 1,700 12,800 71,000 25,800 4,100 32,000 600 Credit $ 25,200 18,700 8,000 2,100 1,000 37,000 38,000 48,100 8,000 2,900 7,100 $178,100 $178,100