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The following adjusted trial balance is for Dream Home Realty Company:
DREAM HOME REALTY COMPANYAdjusted Trial Balance2010 June 30
Debits
Credits
Cash
$98,000
Accounts Receivable
40,000
Office Equipment
35,000
Accumulated Depreciation-Office Equipment
$14,000
Automobiles
Accumulated Depreciation-Automobiles
20,000
Accounts Payable
63,000
Capital Stock
75,000
Retained Earnings, 2009 July 1
54,700
Dividends
5,000
Commissions Revenue
170,000
Salaries Expense
25,000
Commissions Expense
120,000
Gas and Oil Expense
4,000
Rent Expense
14,800
Supplies Expense
1,400
Utilities Expense
2,000
Depreciation Expense-Office Equipment
3,500
Depreciation Expense-Automobiles
8,000
$396,700
Prepare the closing journal entries at the end of the fiscal year, 2010 June 30.
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