The adjusted trial balance of Erickson Real Estate Appraisal at June 30, 2018, follows:

Requirements
1. Prepare the company's income statement for the year ended June 30, 2018.
2. Prepare the company's statement of retained earnings for the year ended June 30, 2018.
3. Prepare the company's classified balance sheet in report form at June 30, 2018.
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, 2018.

Transcribed Image Text:

ERICKSON REAL ESTATE APPRAISAL Adjusted Trial Balance June 30, 2018 Balance Debit Account Title Credit $ 4,600 Cash Accounts Receivable 5,300 Office Supplies 1,500 Prepaid Insurance 1,700 Land 13,000 Building 82,000 $ 25,200 Accumulated Depreciation-Building Accounts Payable 18,700 Interest Payable 8,500 Salaries Payable 2,400 Unearned Revenue 7,600 Notes Payable (long-term) 40,000 Common Stock 3,000 Retained Earnings 39,500 Dividends 27,300 Service Revenue 48,100 Insurance Expense 4,400 Salaries Expense 33,500 Supplies Expense 300 Interest Expense Utilities Expense 8,500 2,700 Depreciation Expense Building 8,200 Total $ 193,000 $ 193,000