The trial balance of B. C. Towe, Quick Cleaners, for the year ended December 31 is presented below.
Data for the adjustments are as follows:

Data for the adjustments are as follows:
a.Depreciation of equipment, $3,010.
b.Depreciation of van, $2,200.
c.Accrued wages, $660.
d.Insurance expired, $450.
e.Supplies remaining, $170.
Instructions:
1.Complete a work sheet for B. C. Towe, Quick Cleaners.
2.Journalize the adjusting entries.
3.Prepare an income statement, a statement of owners equity, and a balance sheet. Assume that no additional investments were made during the year.

Question

The trial balance of B. C. Towe, Quick Cleaners, for the year ended December 31 is presented below.
Data for the adjustments are as follows:
  
Data for the adjustments are as follows:
a.Depreciation of equipment, $3,010.
b.Depreciation of van, $2,200.
c.Accrued wages, $660.
d.Insurance expired, $450.
e.Supplies remaining, $170.
Instructions:
1.Complete a work sheet for B. C. Towe, Quick Cleaners.
2.Journalize the adjusting entries.
3.Prepare an income statement, a statement of owners equity, and a balance sheet. Assume that no additional investments were made during the year.

Quizplus · Accepted Answer

The Answer of The trial balance of B. C. Towe, Quick Cleaners, for the year ended December 31 is presented below.
Data for the adjustments are as follows:
  
Data for the adjustments are as follows:
a.Depreciation of equipment, $3,010.
b.Depreciation of van, $2,200.
c.Accrued wages, $660.
d.Insurance expired, $450.
e.Supplies remaining, $170.
Instructions:
1.Complete a work sheet for B. C. Towe, Quick Cleaners.
2.Journalize the adjusting entries.
3.Prepare an income statement, a statement of owners equity, and a balance sheet. Assume that no additional investments were made during the year.

The Trial Balance of B