PROBLEMS: SE The trial balance columns of the worksheet for Warren Roofing at Ma

Question

PROBLEMS: SE The trial balance columns of the worksheet for Warren Roofing at March 31, 2017. P .ST are as follows. WARREN ROOFING Worksheet For the Month Ended March 31, 2017 Trial Balance Account Titles Dr. 4,500 3,200 2,000 11,000 Cr. Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned 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

Explanation / Answer

Unadjusted trial balance Adjusting entries Adjusted trial balance Work sheet Debit Credit Debit Credit Debit Credit Cash 4500 4500 Accounts receivable 3200 3200 Supplies 2000 1520 480 Equipment 11000 11000 Accumulated depreciation 1250 250 1500 Accounts payable 2500 2500 Salaries and wages payable 700 700 Unearned service revenue 550 290 260 Owners capital 12900 12900 Owners drawings 1100 1100 Service revenue 6300 290 6590 Salaries and wages expense 1300 700 2000 Misc. expense 400 400 Supplies expense 1520 1520 Depreciation expense 250 250 Total 23500 23500 2760 2760 24450 24450 Income statement Service revenue 6590 Expense Salaries and wages expense 2000 Misc. expense 400 Supplies expense 1520 Depreciation expense 250 Total expense 4170 Net income 2420 Adjusting entries 1 Supplies expense 1520 (2000-480)                 Supplies 1520 2 Depreciation expense 250               Accumulated depreciation -equipment 250 3 Unearned service revenue 290 (550-260)               Service revenue 290 4 Salaries and wages expense 700             Salaries and wages payable 700 Clsoing entries 1 Service revenue 6590          Income summary 6590 2 Income summary 4170 Salaries and wages expense 2000 Misc. expense 400 Supplies expense 1520 Depreciation expense 250 3 Income summary 2420           Owners capital 2420 4 Owners capital 1100          Owners drawings 1100

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