Using the following information for Bob s Flowers for 200x, and trial balance accounts and balances on the work sheet provided, complete the work sheet, prepare adjusting and closing journal entries, and (in good form) prepare a Income Statement, Statement of Retained Earnings and Balance Sheet.
Expired insurance totals $8. Of the unearned revenue, all has been earned by the balance sheet date. Estimated depreciation of equipment is $6. Accrued wages equal $4. Unused supplies on hand are $4. Estimated income taxes are $2.
Account Name
Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 30
Account Receivable 20
Prepaid Insurance 12
Supplies 10
Equipment 40
Supplies expense
Accumulated Depreciation, Equipment 6
Account Payable 12
Unearned Revenue 8
Common Stock 64
Dividends 2
Service Revenue 48
Wages Expense 24
138 138