Question

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.


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  • CreatedJanuary 30, 2014
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