Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The trial balance of Warren Roofing contained the following accounts at March 31, the end of the company's fiscal year WARREN ROOFING Worksheet For the
The trial balance of Warren Roofing contained the following accounts at March 31, the end of the company's fiscal year 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 Depreciation Equipment 1,250 Accounts Payable 2,500 Unearned Service Revenue 550 Owner's Capital 12,900 Owner's 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. Instructions (a) Enter the trial balance on a worksheet and complete the worksheet. (b) Prepare an income statement and owner's equity statement for the month of March and a classified balance sheet at March 31. T. Warren made an additional investment in the business of $10,000 in March
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