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The trial balance columns of the worksheet for Crane Roofing at March 31, 2022, are as follows. Crane Roofing Worksheet For the Month Ended
The trial balance columns of the worksheet for Crane Roofing at March 31, 2022, are as follows. Crane Roofing Worksheet For the Month Ended March 31, 2022 Trial Balance Account Titles Dr. Cr. Cash 5,000 Accounts Receivable 3,700 Supplies 1,950 Equipment 10,868 Accumulated Depreciation-Equipment 1,235 Accounts Payable 2,390 Unearned Service Revenue 680 Owner's Capital 13,353 Owner's Drawings 1,160 Service Revenue 6,900 Salaries and Wages Expense 1,490 Miscellaneous Expense 390 24,558 24,558 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 $180 at March 31. 4. Accrued salaries are $600. Trial Balance Account Titles Dr. Cash 5,000 Accounts Receivable 3,700 Supplies 1,950 Equipment 10,868 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Owner's Capital Adjustments Cr. Cr. Dr. 1,235 2,390 680 13,353 Owner's Drawings 1,160 Service Revenue 6,900 Salaries and Wages Expense 1,490 Miscellaneous Expense 390 Totals 24,558 24,558 Supplies Expense Depreciation Expense Salaries and Wages Payable Totals Net Income Totals Dr. Adjusted Trial Balance Dr. Cr. Income Statement Cr. Dr. Balance Sheet Cr. Prepare an income statement for the month of March. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45).) CRANE ROOFING Income Statement S T.Crane made an additional investment in the business of $10,453 in March. Prepare an owner's equity statement for the month of March. (List items that increase owner's equity first.) CRANE ROOFING Owner's Equity Statement $ BRAKE SHOEL Assets Liabilities and Owner's Equity 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. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Mar. 31- Debit Credit Mar. 31 (Adjusting entry for supplies) Mar. 311 (Adjusting entry for depreciation) Mar. 31 (Adjusting entry for unearned service revenue) (Adjusting entry for salaries and wages expenses) Journalize the closing entries from the financial statement columns of the worksheet indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Date Account Titles and Explanation Debit Credit Mar. 31 Mar. 31 (To close revenue account) Mar. 31 Mar 31 (To close expense accounts) (To close net income/(loss)) (To dose drawings)
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