PREPANO A PROPER Imone Statent
Part IV (25 points) The information presented below is taken from the adjusted trial balance of the
Eelis Co. as of December 31, 1978.
Cash
$10,000
Service revenue
50,000
Notes payable
5,000
Rent expense
8,000
Rent revenue
6,000
Accumulated depreciation-Equipment
10,000
Depreciation expense-Equipment
1,000
Equipment
25,000
Accounts receivable
3,000
Supplies expense
5,000
Utilities expense
6,000
J. Eelis, Capital
20,000
J. Eelis, Withdrawals
5,000
Salaries expense
8,000
Supplies
9,000
Interest payable
2,000
Interest expense
5,000
Property tax expense
2,000
Accounts payable
3,000
Indaede Closing Entries.
