I kind of did most of it but still having trouble to solve these question. please show work or expalin so i can understand it better. Thank you
Required 1A Required 1B Required 1C Required 2 saved The adjusted trial balance for Tybalt Construction as of December 31, 2019, follows: Credit $ Debit 5,000 23,000 8,100 7,000 40,000 $ 20,000 150,000 50,000 55,000 TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2019 No. Account Title 101 Cash 104 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 208 Rent payable 210 Wages payable 213 Property taxes payable 233 Unearned professional fees 244 Current portion of long-term note payable 251 Long-term notes payable 307 Common stock 318 Retained earnings 319 Dividends 401 Professional fees earned 406 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 640 Rent expense 652 Supplies expense 682 Postage expense 683 Property taxes expense 684 Repairs expense 688 Telephone expense 690 Utilities expense Total 16,500 2,500 3,500 2,500 900 7,500 7,000 60,000 5,000 121,400 13,000 97,000 14,000 2,000 2,100 11,000 6,000 32,000 5, 100 10,000 13,400 7,400 4,200 5,000 8,900 3,200 4,600 $411, 900 $411,900 623 Wages expense 633 Interest expense 637 Insurance expense 640 Rent expense 652 Supplies expense 682 Postage expense 683 Property taxes expense 684 Repairs expense 688 Telephone expense 690 Utilities expense Totala 32,000 5,100 10,000 13,400 7,400 4.200 5,000 8,900 3.200 4,600 $411, 900 $411, 900 0. Tybalt invested $5,000 cash in the business in exchange for common stock during year 2019. The December 31, 2018, credit balance of the Retained Earnings account was $121,400 Required: 1a. Prepare the income statement for the calendar year 2019 1b. Prepare the statement of retained earnings for the calendar year 2019 1c. Prepare the classified balance sheet at December 31, 2019 2. Prepare the necessary closing entries at December 31, 2019. Complete this question by entering your answers in the tabs below. Required: 10. Prepare the income statement for the calendar-year 2019 1b. Prepare the statement of retained earnings for the calendar year 2019 1c. Prepare the classified balance sheet at December 31, 2019 2. Prepare the necessary closing entries at December 31, 2019. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 10 Required 2 Prepare the income statement for the calendar year 2019. TYBALT CONSTRUCTION Income Statement For Year Ended December 31, 2019 Revenues Interest earned $ 2.100 Professional fees earned 97.000 Rent earned 14,000 Total revenues Expenses Depreciation expense-Building Depreciation expense-Equipment Wages expense Interest expense Insurance expense Rent expense Supplies expense Postage expense Property taxes expense Repairs expense Telephone expense Utatis expense 11.000 6.000 32,000 5 100 10.000 13,400 7 400 4.200 5,000 8.900 3.200 4.600 Total expenses $ 110.800 2,300 Required 13 > 652 Supplies expense 682 Postage expense 683 Property taxes expense 684 Repairs expense 688 Telephone expense 690 Utilities expense Totala 7, 400 4,200 5,000 8,900 3,200 4,600 $411, 900 $411, 900 O. Tybalt Invested $5,000 cash in the business in exchange for common stock during year 2019. The balance of the Retained Earnings account was $121,400. Required: 1a. Prepare the income statement for the calendar year 2019. 1b. Prepare the statement of retained earnings for the calendar-year 2019 1c. Prepare the classified balance sheet at December 31, 2019 2. Prepare the necessary closing entries at December 31, 2019. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 10 Required 2 Prepare the statement of retained earnings for the calendar-year 2019. TYBALT CONSTRUCTION Statement of Retained Earnings For Year Ended December 31, 2019 Retained earnings, Dec 31, 2018 Add: Net income Less: Dividends Retained earnings, Dec. 31, 2019 13,000 112,700 $ < Required 1A Required 10 > Required 1A Required 18 Required ic Required 2 Prepare the classified balance sheet at December 31, 2019. TYBALT CONSTRUCTION Balance Sheet December 31, 2019 Assets Current assets 5.000 Supplies 3.100 7,000 Prepaid insurance 2.500 Current abilities Accounts payable erest payable Wages payable Property taxes payable Rent payable Current portion of long-term notes payable T 2500 3.500 7.000 Equity Retained earnings 121,4001 Prepaid insurance 1,000 20,100 16.500 Liabilities Current liabilities Accounts payable Interest payable Wages payable ! Property taxes payable Rent payable Current portion of long-term notes payable 32.900 32.900 Equity Retained earnings Common stock 121,400 5.000 126.400 159 300 $ Required 1B Required 2 > balance of the Retained Earnings account was $121,400. Required: 10. Prepare the income statement for the calendar year 2019 1b. Prepare the statement of retained earnings for the calendar year 2019 1c. Prepare the classified balance sheet at December 31, 2019 2. Prepare the necessary closing entries at December 31, 2019 Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1C Required 2 Prepare the necessary closing entries at December 31, 2019. View transaction list Journal entry worksheet Record the entry to close the revenue account(s). Note: Enter debits before credits Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal

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