ACC- Bob’s Flowers Problem

ACC- Bob’s Flowers Problem

Question
	

Using the following trial balance information for Bob’s Flowers for 2010, prepare an adjusted trial balance, adjusting and closing journal entries, and (in good form) an Income Statement, Statement of Retained Earnings and Balance Sheet.

a. Expired insurance totals $8.
b. Of the unearned revenue, all has been earned by the balance sheet date.
c. Estimated depreciation of equipment is $6.
d. Accrued wages equal $4.
e. Unused supplies on hand are $4.
f. Estimated income taxes are $2.









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Account Name
Trial Balance
Cash
30debit
Account Receivable
20debit
Prepaid Insurance
12debit
Supplies
10debit
Equipment
40debit
Accumulated Depreciation, Equipment-
6credit
Account Payable
12credit
Unearned Revenue
8credit
Common Stock
64credit
Dividends
2debit
Service Revenue
48credit
Wages Expense
24debit