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 | 2,800 | |||
Supplies | 2,370 | |||
Equipment | 11,088 | |||
Accumulated DepreciationEquipment | 1,260 | |||
Accounts Payable | 2,200 | |||
Unearned Service Revenue | 680 | |||
Owners Capital | 12,898 | |||
Owners Drawings | 1,180 | |||
Service Revenue | 6,600 | |||
Salaries and Wages Expense | 1,360 | |||
Miscellaneous Expense | 340 | |||
23,638 | 23,638 |
Other data:
1. | A physical count reveals only $600 of roofing supplies on hand. | |
2. | Depreciation for March is $252. | |
3. | Unearned revenue amounted to $190 at March 31. | |
4. | Accrued salaries are $700. |
Complete the worksheet.
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).)
T. Warren made an additional investment in the business of $9,998 in March. Prepare an owners equity statement for the month of March. (List items that increase owner's equity first.)
Prepare a classified balance sheet at March 31. (List Current Assets in order of liquidity.)
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.)
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.)
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