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What is the Owner's Capital for the beginning of the month? The trial balance columns of the worksheet for Blossom Roofing at March 31, 2020,
What is the Owner's Capital for the beginning of the month?
The trial balance columns of the worksheet for Blossom Roofing at March 31, 2020, are as follows. Blossom Roofing Worksheet For the Month Ended March 31, 2020 Trial Balance Account Titles Dr. Cr. Cash 4,200 Accounts Receivable 3,300 Supplies 2,350 Equipment 11,132 Accumulated Depreciation-Equipment 1,265 Accounts Payable 2,310 Unearned Service Revenue 430 Owner's Capital 13,067 Owner's Drawings 1,050 Service Revenue 6,700 Salaries and Wages Expense 1,440 Miscellaneous Expense 300 23,772 23,772 Other data: 1. A physical count reveals only $600 of roofing supplies on hand. 2. Depreciation for March is $253. 3. Unearned revenue amounted to $210 at March 31. 4. Accrued salaries are $800. BLOSSOM ROOFING Worksheet For the Month Ended March 31, 2020 Adjustments Adjusted Trial Balance Dr. Cr. Dr. Cr. Trial Balance Dr. Account Titles Cash 4,200 4,200 Accounts Receivable 3,300 3,300 Supplies 2,350 1,750 600 Equipment 11,132 11,132 Accumulated Depreciation Equipment 1,265 1,518 Accounts Payable 2,310 2,310 Unearned Service Revenue 430 220 210 1 llllllllllli luu Owner's Capital 13,067 13,067 Owner's Drawings 1,050 1,050 Service Revenue 6,700 220 6,920 Salaries and Wages Expense 1,440 800 2,240 Miscellaneous Expense 300 300 Totals 23,772 23,772 Supplies Expense 1,750 1,750 Depreciation Expense 253 253 Salaries and Wages Payable 800 800 Totals 3,023 3,023 24,825 24,825 Net Income Totals Income Statement Balance Sheet Dr. Dr. Cr. Cr. 4,200 3,300 600 132 1,518 2,310 T 210 13,067 1,050 T 6,920 2,240 1,750 253 800 4,543 6,920 20,282 17,905 2,377 2,377 6,920 6,920 20,282 82] T 20,282 20,282 Prepare an income statement for the month of March. (Enter negative amounts using ei BLOSSOM ROOFING Income Statement For the Month Ended March 31, 20204 Revenues Service Revenue 6,920) Expenses Salaries and Wages Expense 2,240 Miscellaneous Expense Supplies Expense T 1,750 Depreciation Expense 253 Total Expenses 4,543 2,377 T Net Income / (Loss) Click if you would like to Show Work for this question: Open Show Work T. Blossom made an additional investment in the business of $10,167 in March. P BLOSSOM ROOFING Owner's Equity Statement For the Month Ended March 31, 2020 Owner's Capital, March 1 4 Tad & T Net Income / (Loss) ) 1 2,377 Investments 10,167 12,544 Less Drawings 1,050 Owner's Capital, March 31 4 Click if you would like to Show Work for this question: Open Show Work
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