The Trial Balance of B

Essay

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.