Question: Please Answer all the questions and please number them. Write in coloumns so that it is easy to inerpret. Thank You The adjusted trial balance

Please Answer all the questions and please number them. Write in coloumns so that it is easy to inerpret. Thank You

The adjusted trial balance of Karise Repairs on December 31, 2017, follows.

KARISE REPAIRS Adjusted Trial Balance December 31, 2017
No. Account Title Debit Credit
101 Cash $ 113,000
124 Office supplies 1,800
128 Prepaid insurance 2,850
167 Equipment 54,000
168 Accumulated depreciationEquipment $ 5,400
201 Accounts payable 12,500
210 Wages payable 700
301 C. Karise, Capital 34,000
302 C. Karise, Withdrawals 15,000
401 Repair fees earned 199,750
612 Depreciation expenseEquipment 5,400
623 Wages expense 39,000
637 Insurance expense 1,000
640 Rent expense 12,500
650 Office supplies expense 4,300
690 Utilities expense 3,500
Totals $ 252,350 $ 252,350

Assume there are no owner investments in 2017. Required: 1a. Prepare an income statement for the year 2017. 1b. Prepare a statement of owner's equity for the year 2017. 1c. Prepare a classified balance sheet at December 31, 2017. 2. Complete the work sheet using the adjusted trial balance in the first two columns of a six-column table. Use columns three and four for closing entry information and the last two columns for a post-closing trial balance. 3. Using information from the work sheet in Requirement 2, prepare the appropriate closing entries.

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