The trial balance columns of the worksheet for Lampert Roofing at March 31, 2014, are as follows.

Other data:
1. A physical count reveals only $550 of roofing supplies on hand.
2. Depreciation for March is $250.
3. Unearned revenue amounted to $210 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. C. Lampert made an additional investment in the business of $10,000 in March.
(c) Journalize the adjusting entries from the adjustments columns of the worksheet.
(d) Journalize the closing entries from the financial statement columns of theworksheet.

Transcribed Image Text:

LAMPERT ROOFING Worksheet For the Month Ended March 31, 2014 Trial Balance Account Titles Cr T. 4,500 3,200 2,000 11,000 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Uncarned Service Revenue Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Miscellaneous Expense 1,250 2,500 550 12,900 1,100 6,300 1,300 400 23,500 23,500