Question : 202. 1) Bowen Company completing its first year of operations April 30, : 1239744

 

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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