Chapter 4 ESTUDIANTES INSTRUCCIONES (1) References Mailings Review View At the end of its first quarter of operations, Margaret Floral Way has the following unadjusted trial balance. Margaret Floral Way Cr. I Trial Balance February 29, 2016 Dr. cash $ 5,400 Account receivable 2,800 supplies 1,300 prepaid Insurance 2,400 equipment 60,000 notes payable $ accounts payable $ owner's capital owner's drawing 1,000 service revenue salaries and wages expense 3,200 utilities expense 800 advertising expense 400 total $ 77,300 $ 40,000 2,400 30,000 4,900 77.300 1. Insurance balance is for two years, calculate the amount that expires for the quarter. 2. $600 of supplies are on hand at February 29, 2016. 3. Monthly depreciation on the equipment is $1900. 4. Interest of $800 on the notes payable has accrued during February. INSTRUCCIONES: a) Jornalize y post the adjusting entries. (Value 27) b) Prepare the adjusted trial balance. (Value 28) c) Prepare the income statement (Value 28), the statement of owner's equity (Value 23) and a classified balance sheet (Value 54). d) Jornalize and post the closing entries (Value 28) e) Prepare a post-closing trial balance. (Value 32)