Question: this is all one problem please complete all parts sprog Calculator Problem 3-71A Preparing a Worksheet Marsteller Properties Inc. owns apartments that it rents to

this is all one problem please complete all parts  this is all one problem please complete all parts sprog Calculator
Problem 3-71A Preparing a Worksheet Marsteller Properties Inc. owns apartments that it
rents to university students. At December 31, 2019, the following unadjusted account
balances were available: Cash $4,600 Notes Payable (due in 2021) $2,000,000 Rent
Receivable 32,500 Common Stock 1,500,000 Supplies 4,700 Retained Earnings, 12/31/2018 39,200 Prepaid
Insurance 60,000 Rent Revenue 660,000 Land 274,000 Repairs & Maintenance Expense 73,200

sprog Calculator Problem 3-71A Preparing a Worksheet Marsteller Properties Inc. owns apartments that it rents to university students. At December 31, 2019, the following unadjusted account balances were available: Cash $4,600 Notes Payable (due in 2021) $2,000,000 Rent Receivable 32,500 Common Stock 1,500,000 Supplies 4,700 Retained Earnings, 12/31/2018 39,200 Prepaid Insurance 60,000 Rent Revenue 660,000 Land 274,000 Repairs & Maintenance Expense 73,200 Buildings 4,560,000 Advertising Expense 58,700 Accumulated Depreciation (Buildings) 1,015,000 Wages Expense 84,300 Other Assets 26,100 Utilities Expense 3,400 Accounts Payable 57,300 Interest Expense 90,000 The following information is available for adjusting entries: a. An analysis of apartment rental contracts indicates that $3,800 of apartment rent is unbilled and unrecorded at year end. b. A physical count of supplies reveals that $1,400 of supplies are on hand at December 31, 2019 c. Annual depreciation on the buildings is $204,250. d. An examination of insurance policies indicates that $12,000 of the prepaid insurance applies to coverage for 2019, e. Six months' interest at 9% is unrecorded and unpaid on the notes payable. f. Wages in the amount of $6,100 are unpaid and unrecorded at December 31 g. Utilities costs of $300 are unrecorded and unpaid at December 31 h. Income taxes of $5,738 are unrecorded and unpaid at December 31. Required: eBook Spreads Accrual Accounting Problem 1a. Click on the Worksheet link above. Prepare a worksheet for Marsteller 1b. Submit the completed worksheet to your instructor. 2. Prepare an income statement for Marsteller Properties Inc. Marsteller Properties Inc. Income Statement For the Year Ended December 31, 2019 Expenses: Chat My Africk 10 mar Accrual Accounting Problem eBook Spreads Retained Earnings Statement For the Year Ended December 31, 2019 Prepare a classified balance sheet for Marsteller Properties, Inc. Marsteller Properties Inc. Balance Sheet December 31, 2019 Assets Current assets: Total current assets Property, plant, and equipment: Check My Work 10 more Check My Work uses remaining, Accrual Accounting Problem eBook o Property, plant, and equipment: Total assets Liabilities Current liabilities: Total current liabilities Long-term liabilities: Total liabilities Stockholders' Equity Stockholders' equity: Ecrual Accounting Problem eBook Spread Stockholders' equity: Total stockholders' equity Total liabilities and stockholders' equity 3. Prepare the closing entries. If an amount box does not require an entry Dec. 31 (Close revenue accounts) Dec. 31 > Check My Work 10 more Check My Work 1111111 1111111 (Close expense accounts) Dec. 31 u (Close Income Summary)

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