Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The trial balance columns of the worksheet for Sheridan Roofing at March 31, 2022, are as follows. Other data: 1. A physical count reveals only

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The trial balance columns of the worksheet for Sheridan Roofing at March 31, 2022, are as follows. Other data: 1. A physical count reveals only $600 of roofing supplies on hand. 2. Depreciation for March is $247. 3. Unearned revenue amounted to $190 at March 31. 4. Accrued salaries are $800. Complete the worksheet. Owner's Capital Owner's Drawings Service Revenue Salaries and Woges Expense Misceltaneous Expense Totais: Supplies Expense Depreciation Expense Salaries and Wages Payable Totals Net income 11,823 1.130 6,700 1,000 380 23.248 23,248 ( Prepare an incomestatement for the month of March, fenter neppothe amounts usirg either a negative sign preceding the number es. 45 or parentheses ey (45)) T. Sheridan made an additional imvostment in the business of $8,923 in March. Prepare an owner's equity 3 tatement for the month of March fList items that increase avner's eculty first) Prepare a classified balance sheet at March31. (List Current Assets in order of liquidify) Liabilities and Owner's Equity $ $ Journaliye the adjusting entries from the adjustments columns of the worksheet, (Creali account tieler are automaticaily inderited When amount it entered, Do not indent manually If no entry is fequired, select Wo Entry' for the account tides and enter O for the amounts 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. If no entry is required, select "No Entry" for the account titles and enter O for amounts) Mar. 31 (To close net income / (loss)) Mar. 31 (To close drawings)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Anti Money Laundering Governance Risk Management And Compliance GRC Book 4

Authors: Uwem Essia, Kester Ehiwario

1st Edition

B0BBXZ6GKR, 979-8848908473

More Books

Students also viewed these Accounting questions

Question

Why do many process-costing systems use multiple cost pools?

Answered: 1 week ago