189.The following are all the steps in the accounting cycle. List them in the order in which they should be done.
-Closing entries are journalized and posted to the ledger.
-An unadjusted trial balance is prepared.
-An optional end-of-period spreadsheet (work sheet) is prepared.
-A post-closing trial balance is prepared.
-Adjusting entries are journalized and posted to the ledger.
-Transactions are analyzed and recorded in the journal.
-Adjustment data are assembled and analyzed.
-Financial statements are prepared.
-An adjusted trial balance is prepared.
-Transactions are posted to the ledger.
190. 1) Dana Bowen Company is completing its first year of operations on April 30. Reconstructthe entries for the year ended April 30 from the T accounts below. Record them,assigning letters to each transaction, as follows:
a - l Transaction
m- r Adjusting Journal Entries
2)Balance and prepare the Income Statement, Statement of Owner’s Equity, and theBalance Sheet from the T accounts.
3)Prepare the four closing entries (s - v).
4)Prepare the post-closing trial balance.
CashAccountsReceivable
SuppliesPrepaidInsurance
6,5001,2508701,940
900385540725
400
420
1,940
2,500
50
350
930
EquipmentAccumulatedDepreciation
AccountsPayable
Wages Payable
2,500130870225
UnearnedRevenuesDana Bowen,CapitalDana Bowen,Drawing IncomeSummary
9306,500350
5902,500
Fees EarnedWages ExpenseRent ExpenseSupplies Expense
900420400540
1,250225
2,500
385
590
InsuranceExpenseDepreciationExpenseMiscellaneousExpense
72513050