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.
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