196.
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.
CashAccounts Receivable
SuppliesPrepaid Insurance
8,5001,2508701,940
2,500385540725
400
900
420
1,940
2,600
50
350
830
EquipmentAccumulated DepreciationAccounts PayableWages Payable
2,500130870225
Unearned Revenues
Capital StockRetained Earnings
Dividends
8308,500350
490
Fees EarnedWages Expense
Rent ExpenseSupplies Expense
900420400540
1,250225
2,600
385
490
Insurance
ExpenseDepreciation ExpenseMiscellaneous ExpenseIncome
Summary
72513050