ERICKSON REAL ESTATE APPRAISAL Adjusted Trial Balance June 30, 2018 Balance Debi

Question

ERICKSON REAL ESTATE APPRAISAL Adjusted Trial Balance June 30, 2018 Balance Debit Account Title Cash Accounts Receivable Office 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 Credit $4,600 5,300 1,500 1,700 13,000 82,000 $ 25,200 18,700 8,500 2,400 7,600 40,000 3,000 39,500 27,300 48,100 4,400 33,500 300 8,500 2,700 8,200 193,000 193,000

Explanation / Answer

As per policy, only four parts of a question is allowed to answer, so answering 1 - 4 :

1) Income Statement :

2) Statement of Retained Earnings :

3) Classified Balance Sheet :

4) Closing entries :

Service Revenue $48100 Less: Expenses: Insurance 4400 Salary 33500 Supplies 300 Interest 8500 Utilities 2700 Depreciation 8200 Total Expenses 57600 Net Loss (9500)

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