Question
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
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 | 4,500 | |||
Accounts Receivable | 3,200 | |||
Supplies | 2,000 | |||
Equipment | 11,000 | |||
Accumulated DepreciationEquipment | 1,250 | |||
Accounts Payable | 2,500 | |||
Unearned Service Revenue | 550 | |||
Owners Capital | 12,900 | |||
Owners Drawings | 1,100 | |||
Service Revenue | 6,300 | |||
Salaries and Wages Expense | 1,300 | |||
Miscellaneous Expense | 400 | |||
23,500 | 23,500 |
Other data:
1. | A physical count reveals only $480 of roofing supplies on hand. | |
2. | Depreciation for March is $250. | |
3. | Unearned revenue amounted to $260 at March 31. | |
4. | Accrued salaries are $700. |
Prepare an income statement for the month of MarchT. Warren made an additional investment in the business of $10,000 in March. Prepare an owners equity statement for the month of March . Prepare a classified balance sheet at March 31 . Journalize the adjusting entries from the adjustments columns of the worksheet.. Journalize the closing entries from the financial statement columns of the worksheet.
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