202.
1)
Bowen Company is completing its first year of operations on April 30, 2012. Reconstruct the entries for the year ended April 30, 2012 from the T accounts below. Record them as follows:
A – L Journal Entries
M- R Adjusting Journal Entries
2)
Prepare the income statement, retained earnings statement, and classified balance sheet from the T accounts.
3)
Prepare the four closing entries (S – V).
4)
Prepare the post-closing trial balance.
Cash
Accounts Receivable
Supplies
Prepaid Insurance
8,500
1,250
870
1,940
2,500
385
540
725
400
900
420
1,940
2,600
50
350
830
Equipment
Accumulated Depreciation
Accounts Payable
Wages Payable
2,500
130
870
225
Unearned Revenues
Capital Stock
Retained Earnings
Dividends
830
8,500
350
490
Fees Earned
Wages Expense
Rent Expense
Supplies Expense
900
420
400
540
1,250
225
2,600
385
490
InsuranceExpense
Depreciation Expense
Miscellaneous Expense
IncomeSummary
725
130
50
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