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(b2) T. Carla Vista made an additional investment in the business of $11,022 in March. Prepare an owners equity statement for the month of March.
(b2) T. Carla Vista made an additional investment in the business of $11,022 in March. Prepare an owners equity statement for the month of March. (List items that increase owner's equity first.)
Problem 4-01A a-d (Part Level Submission) (Video) The trial balance columns of the worksheet for Carla Vista Roofing at March 31, 2020, are as follows. Carla Vista Roofing Worksheet For the Month Ended March 31, 2020 Trial Balance Account Titles Dr. Cr. Cash 4,700 Accounts Receivable 3,500 Supplies 2,380 Equipment 11,352 Accumulated Depreciation Equipment 1,290 Accounts Payable 2,320 Unearned Service Revenue 690 Owner's Capital 13,922 Owner's Drawings 1,150 Service Revenue 6,300 Salaries and Wages Expense 1,110 Miscellaneous Expense 330 24,522 24,522 Other data: 1. 2. 3. 4. A physical count reveals only $500 of roofing supplies on hand. Depreciation for March is $258. Unearned revenue amounted to $240 at March 31. Accrued salaries are $700. (a) Your answer is correct. Complete the worksheet. CARLA VISTA ROOFING Worksheet For the Month Ended March 31, 2020 Adjustments Adjusted Trial Balance Dr. Income Statement Trial Balance Dr. Cr. Balance Sheet Dr. Cr. Account Titles Cr. Cash 4,700 T 4 ,700 4,700 Accounts Receivable 3,500 3,500 3,500 Supplies 2,380 T 1,880 500 500 Equipment 11,352 T 11,352 T 11,352 Accumulated Depreciation Equipment 1,290 258 1,548 1,548 Accounts Payable 2,3 2,320 2,320 Unearned Service Revenue 690 450 240 T dditTTT CHAUDUTUUDI 240 Owner's Capital 13,922 Owner's Drawings 1,150 LIQUITIT, 1,150 Service Revenue 6,300 6,750 LULA Salaries and Wages Expense 1,110 700 11 1 1 ,810 Miscellaneous Expense 330 330 330 Totals 24,522 24,522 Supplies Expense 1,880 1,880 I 1,880 Depreciation Expense T 258 T 258 Salaries and Wages Payable 700 700 700 QURULU Totals 3,288 3,288 T 25,480 25,480 4,278 6,750 18,730 Net Income 2,472 2,472 Totals 6,750 6,750 T 21,202 21,202 (61) Your answer is correct. Prepare an income statement for the month of March. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) CARLA VISTA ROOFING Income Statement For the Month Ended March 31, 2020 T Revenues 1 Service Revenue 6,750 T Expenses | Salaries and Wages Expense 1,810 Miscellaneous Expense 330 | Supplies Expense 1,880 Depreciation Expense 258 Total Expenses 4,278 I Net Income / (Loss) 2,472 (62) Your answer is partially correct. Try again. T. Carla Vista made an additional investment in the business of $11,022 in March. Prepare an owner's equity statement for the month of March. (List items that increase owner's equity first.) CARLA VISTA ROOFING Owner's Equity Statement For the Month Ended March 31, 2020 - TOwner's Capital, March 1 13,922 Y Add 4 T Investments T 11,022 Net Income / (Loss) T 2,472 13,494 27,416 Less Drawings 1,150 TOwner's Capital, March 31 26,266Step by Step Solution
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