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In: Accounting

Dana Bowen Company is completing its first year of operations on April 30. Reconstruct the entries...

Dana Bowen Company is completing its first year of operations on April 30. Reconstruct the entries for the year ended April 30 from the T accounts below. Record them, assigning labels to each transaction, as follows:

Cash Accounts Receivable Supplies Prepaid Insurance
6,500 1,250 870 1,940
900 400 385 540 725
420
1,940
2,500
50
350
930
Equipment Accumulated Depreciation Accounts Payable Wages Payable
2,500 130 870 225
Unearned Revenue Dana Bowen, Capital Dana Bowen, Drawing
930 6,500 350
590 2,500
Fees Earned Wages Expense Rent Expense Supplies Expense
900 420 400 540
1,250 225
2,500
385
590
Insurance Expense Depreciation Expense Miscellaneous Expense
725 130 50




1a. Journal Entries

1b. Adjusting Journal Entries

2a. Balance and prepare the Income Statement from the T-Accounts.

2b. Balance and prepare the Statement of Owner's Equity from the T-Accounts.

2c. Balance and prepare the Balance Sheet from the T-Accounts.

3. Prepare the closing entries. If an amount box does not require an entry, leave it blank.

4. Prepare the Post-Closing Trial Balance. If an amount box does not require an entry, leave it blank.

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