The adjusted trial balance of Primitivo Real Estate Appraisal at June 30, 2025, follows: 

Requirements 

1. Prepare the company’s income statement for the year ended June 30, 2025. 

2. Prepare the company’s statement of retained earnings for the year ended June 30, 2025.

3. Prepare the company’s classified balance sheet in report form at June 30, 2025. 

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, 2025.

Transcribed Image Text:

PRIMITIVO REAL ESTATE APPRAISAL Adjusted Trial Balance June 30, 2025 Account Title Cash Accounts Receivable Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building 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 Balance Debit $ 4,600 4,600 2,900 1,700 14,000 74,700 17,000 5,500 22,800 100 80 3,600 8,500 $ 160,080 Credit $ 8,600 8,900 80 1,300 2,000 20,000 10,000 10,600 98,600 $ 160,080