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1. Prepare a classified balance sheet on March 31. (List Current Assets in order of liquidity.) 2. Journalize the adjusting entries from adjustments columns of
1. Prepare a classified balance sheet on March 31. (List Current Assets in order of liquidity.)
2. Journalize the adjusting entries from adjustments columns of the worksheet.
3. Journalize the closing entries from the financial statement columns on the worksheet
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 5,000 Accounts Receivable 3,300 Supplies 2,140 Equipment Accumulated Depreciation-Equipment Accounts Payable 10,604 1,205 2,850 Unearned Service Revenue 450 Owner's Capital Owner's Drawings 12,299 1,060 Service Revenue 6,800 Salaries and Wages Expense 1,070 Miscellaneous Expense 430 23,604 23,604 Other data: 1. A physical count reveals only $600 of roofing supplies on hand. 2. Depreciation for March is $241. Unearned revenue amounted to $190 at March 31. Accrued salaries are $800. 3. 4.
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