Problem 4-1A

The trial balance columns of the worksheet for Warren Roofing at March 31, 2017, are as follows.

WARREN ROOFING Worksheet For the Month Ended March 31, 2017
		Trial Balance
Account Titles		Dr.		Cr.
Cash		5,000
Accounts Receivable		2,900
Supplies		1,700
Equipment		10,868
Accumulated DepreciationEquipment				1,235
Accounts Payable				2,000
Unearned Service Revenue				680
Owners Capital				12,523
Owners Drawings		1,060
Service Revenue				6,700
Salaries and Wages Expense		1,200
Miscellaneous Expense		410
		23,138		23,138

Other data:

1.		A physical count reveals only $500 of roofing supplies on hand.
2.		Depreciation for March is $247.
3.		Unearned revenue amounted to $240 at March 31.
4.		Accrued salaries are $800.

Prepare a classified balance sheet at March 31. (List Current Assets in order of liquidity.)

Complete the worksheet. WARREN ROOFING Worksheet Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Titles Dr Cr Cr Dr Cr Dr. Cr Dr Cr 5,000 2,900 1,700 10,868 Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Miscellaneous Expense 1,235 2,000 680 12,523 1,060 6,700 1,200 410 23,138 23,138 Totals Supplies Expense Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue 2,900 1,700 10,868 1,235 2,000 680 12,523 Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Miscellaneous Expense 1,060 6,700 1,200 410 23,138 23,138 Totals Supplies Expense Depreciation Expense Salaries and Wages Payable Totals Net Income Totals 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).) WARREN ROOFING T. Warren made an additional investment in the business of $9,623 in March. Prepare an owner's equity statement for the month of March. (List items that increase owner's equity first.) WARREN ROOFING Owner's Equity Statement Journalize the adjusting entries from the adjustments columns of the worksheet. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 (Adjusting entry for supplies) Mar. 31 Adjusting entry for depreciation) Mar. 31 (Adjusting entry for unearned service revenue) Mar. 31 (Adjusting entry for salaries and wages expenses) Journalize the closing entries from the financial statement columns of the worksheet. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Credit Date Account Titles and Explanation Debit Mar. 31 (To close revenue account) Mar. 31 To close expense acounts) Mar. 31 (To close net income / (loss) Mar. 31 (To close drawings)