The adjusted trial balance of Estella Real Estate Appraisal at June 30, 2016, follows:

Requirements
1. Prepare the company€™s income statement for the year ended June 30, 2016.
2. Prepare the company€™s statement of retained earnings for the year ended June 30, 2016.
3. Prepare the company€™s classified balance sheet in report form at June 30, 2016.
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, 2016.

Transcribed Image Text:

ESTELLA REAL ESTATE APPRAISAL Adjusted Trial Balance June 30, 2016 Balance Debit Credit Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Building Accumulated Depreciation-Building Land Accounts Payable Interest Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Common Stock Retained Earnings Dividends Service Revenue Insurance Expense Salaries Expense Supplies Expense Interest Expense Utilities Expense Depreciation Expense-Building Total $4,600 5,300 1,500 1,600 77,000 26,000 13,500 19,300 8,400 1,900 5,300 37,000 3,000 37,000 27,200 48,900 4,300 33,000 200 8,400 2,500 7,700 186,800 S 186,800