20 Jan The adjusted trial balance columns of the workshee
The adjusted trial balance columns of the worksheet for Boozer Company are as follows. BOOZER COMPANY Worksheet For the Year Ended December 31, 2012 Adjusted Trial Balance Account Dr. No. Account Titles 18,800 101 Cash 16,200 112 Accounts Receivable 2,300 126 Supplies 4,400 130 Prepaid Insurance 46,000 151 Equipment 152 Accumulated Depreciation Equipment 20,000 200 Notes Payable 20,000 201 Accounts Payable 8,000 212 Salaries and Wages Payable 2,600 230 Interest Payable 1,000 301 Owner’s Capital 26,000 306 Owner’s Drawings 12,000 400 Service Revenue 87,800 610 Advertising Expense 10,000 631 Supplies Expense 3,700 711 Depreciation Expense 8,000 722 Insurance Expense 4,000 726 Salaries and Wages Expense 39,000 905 Interest Expense 1,000 Totals 165,400 165,400Instructions(a) Complete the worksheet by extending the balances to the financial statement columns.(b) Prepare an income statement, owner’s equity statement, and a classified balance sheet. $5,000 of the notes payable become due in 2013. C. Boozer did not make any additional investments in the business during 2012.(c) Prepare the closing entries. Use J14 for the journal page.(d) Post the closing entries. Use the three-column form of account. Income Summary is account No. 350.(e) Prepare a post-closing trial balance.
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