Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The trial balance columns of the worksheet for Blossom Roofing at March 31, 2022, are as follows. Blossom Roofing Worksheet For the Month Ended
The trial balance columns of the worksheet for Blossom Roofing at March 31, 2022, are as follows. Blossom Roofing Worksheet For the Month Ended March 31, 2022 Trial Balance Account Titles Cash Accounts Receivable Supplies Equipment Dr. Cr. 4,200 3,300 2,350 11,132 Accumulated Depreciation-Equipment 1,265 Accounts Payable 2,310 Unearned Service Revenue 430 Owner's Capital 13,067 Owner's Drawings 1,050 Service Revenue 6,700 Salaries and Wages Expense 1,440 Accumulated Depreciation-Equipment 1,265 Accounts Payable 2,310 Unearned Service Revenue 430 Owner's Capital 13,067 Owner's Drawings 1,050 Service Revenue 6,700 Salaries and Wages Expense 1,440 Miscellaneous Expense 300 23,772 23,772 Other data: 1. 2. A physical count reveals only $600 of roofing supplies on hand. Depreciation for March is $253. 3. Unearned revenue amounted to $210 at March 31. 4. Accrued salaries are $800. Owner's Capital, March 1 Add : Net Income/(Loss) Investments Less : Drawings Owner's Capital, March 31 BLOSSOM ROOFING Owner's Equity Statement For the Month Ended March 31, 2022 2377 10167 1050 i Prepare a classified balance sheet at March 31. (List Current Assets in order of liquidity.) Current Assets Cash Accounts Receivable Supplies Total Current Assets Property, Plant and Equipment Equipment Less : Accumulated Depreciation-Equipment BLOSSOM ROOFING Balance Sheet March 31, 2022 Assets $ 11132 SA $ Question 2 of 2 Total Assets Current Liabilities Accounts Payable < Unearned Service Revenue Salaries and Wages Payable Total Current Liabilities Owner's Equity Owner's Capital Total Liabilities and Owner's Equity eTextbook and Media Liabilities and Owner's Equity $ 2310 210 800 3.72/5 ==
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started