Law Management Services began business on January 1, 2012, with a capital investment of $120,000. The company manages condominiums for owners (Service Revenue) and rents space in its own office building (Rent Revenue). The trial balance and adjusted trial balance columns of the worksheet at the end of the first year are as follows..

Instructions(a) Prepare a complete worksheet.(b) Prepare a classified balance sheet. (Note: $30,000 of the mortgage note payable is due for payment next year.)(c) Journalize the adjusting entries.(d) Journalize the closing entries.(e) Prepare a post-closing trialbalance

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LAW MANAGEMENT SERVICES Worksheet For the Year Ended December 31, 2012 Adjusted Trial Balance Trial Balance Cr. Account Titles Dr. Cr. Dr. Cash 13,800 13,800 Accounts Receivable 28,300 28,300 Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue 3,600 2,400 67,000 67,000 127,000 127,000 59,000 59,000 12,500 12.500 6,000 1,500 Mortgage Payable Owner's Capital Owner's Drawings 120,000 144,000 120,000 144,000 22,000 22,000 90,700 Service Revenue 90,700 Rent Revenue 29,000 33,500 42,000 Salaries and Wages Expense Advertising Expense Utilities Expense 42,000 20,500 20,500 19,000 19,000 Totals 402.200 402.200 1,200 6,600 Insurance Expense Depreciation Expense Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Interest Expense Interest Payable 3,000 3,600 10,000 10,000 Totals 418,800 418,800