ERICKSON REAL ESTATE APPRAISAL Adjusted Trial Balance June 3

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

Solution

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)