Question

Adjusted Trial Balance December 31, 2019 Account Title $ Debit 8,000 24,500 8,888 8, 4ee 55,000 $ 27,500 177,000 59, eee 54,370 16,eee 2,989 3,eee 2,800 1,282 7,880 7,5ee 61,5ee 14,3ee 181 Cash 184 Short-term investments 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 173 Building 174 Accumulated depreciation-Building 183 Land 201 Accounts payable 203 Interest payable 288 Rent payable 219 Wages payable 213 Property taxes payable 233 Unearned professional fees 244 Current portion of long term note payable 251 Long-term notes payable 301 0. Tybalt, Capital 382 0. Tybalt, Withdrawals 401 Professional fees earned 496 Rent earned 407 Dividends earned 409 Interest earned 606 Depreciation expense-Building 612 Depreciation expense-Equipment 623 Wages expense 633 Interest expense 637 Insurance expense 648 Rent expense 652 Supplies expe 682 Postage expen 683 Property taxes expense 684 Repains expense 688 Telephone expense 598 Utilities expense Totals tee 1ee, eee 15, See 2, zee 2,988 12,988 8,25e 25,588 7, 2ee le, 788 5,5ee D 8988 19 $444, see

Answer 1

Income Statement
Revenue
Professional Fees earned	$ 100,000
Rent earned	$   15,500
Dividends earned	$      2,700
Interest earned	$      2,900
Total Revenues		$ 121,100
Expenses
Depreciation Expense-Building	$   12,980
Depreciation Expense-Equipment	$      8,250
Wages Expense	$   25,500
Interest Expense	$      4,900
Insurance Expense	$      7,200
Rent Expense	$   10,700
Supplies Expense	$      5,500
Postage expense	$      3,100
Property taxes expense	$      3,200
Repair Expense	$      8,900
Telephone Expense	$      1,900
Utilities Expense	$      4,300
Total Expenses		$   96,430
Net Income		$   24,670

Statement of Owner's Equity
Beginning Balance Capital		$ 126,300
Capital Invested	$      8,000
Net Income	$   24,670	$   32,670
		$ 158,970
Drawings		$   12,100
Ending Balance Capital		$ 146,870

Balance Sheet
Assets
Current Assets
Cash	$      8,000
Short term Investments	$   24,500
Supplies	$      8,800
Prepaid Insurance	$      8,400
Total Current Assets		$   49,700
Property, Plant and Equipment
Land		$   54,370
Building	$ 177,000
Less : Accumulated Depreciation	$ -59,000	$ 118,000
Equipment	$   55,000
Less : Accumulated Depreciation	$ -27,500	$   27,500
Total Assets		$ 249,570
Liabilities
Current Liabilities
Accounts Payables	$   16,000
Interest Payable	$      2,900
Rent Payable	$      3,000
Wages Payable	$      2,800
Property taxes Payable	$      1,200
Unearned Professional Fees	$      7,800
Current Maturities of Notes Payable	$      7,500
Total Current Liabilities		$   41,200
Non Current Liabilities
Notes Payable		$   61,500
Total Liabilities		$ 102,700
Owner's Equity
Capital	$ 146,870
Total Owner's Equity		$ 146,870
Total Liabilities & Owner's Equity		$ 249,570

Closing entries

Account Titles	Debit	Credit
Professional Fees earned	$ 100,000
Rent earned	$   15,500
Dividends earned	$      2,700
Interest earned	$      2,900
Income Summary		$ 121,100
(To close revenue accounts)
Income Summary	$   96,430
Depreciation Expense-Building		$   12,980
Depreciation Expense-Equipment		$      8,250
Wages Expense		$   25,500
Interest Expense		$      4,900
Insurance Expense		$      7,200
Rent Expense		$   10,700
Supplies Expense		$      5,500
Postage expense		$      3,100
Property taxes expense		$      3,200
Repair Expense		$      8,900
Telephone Expense		$      1,900
Utilities Expense		$      4,300
(To close expense accounts)
Income Summary	$   24,670
O Tybalt, Capital		$   24,670
(To transfer net income)
O Tybalt, Capital	$   12,100
O Tybalt, Withdrawls		$   12,100
(To close drawings account)

As per HOMEWORKLIB RULES we are suppose to solve 4 parts, i have solved 4, so kindly post others separately