Problems

$4-45$

prepare the reversing entries on January $1$

a$.$ and balance the accounts. $($Use T$-$accounts.$)$ pay ment of all interest due $($$$3,000)$ on January $15.$

a$.$ post the entries in $($d$)$ to the temporary accounts.

problems

Prepare a workhert, finumetal trate:

mente, and odfuting and dotsing entret

Warren Roofing

Worksheet

For the Month Ended March $31,2022$

Exced

Other data:

A physical count reveals only $$480$ of roofing supplies on hand.

Depreciation for March is $$250.$

Unearned revenue amounted to $$260$ at March $31.$

Accrued salaries are $$700.$

a$.$ Adjusted trial balance

Instructions

a$.$ Enter the trial balance on a worksheet and complete the worksheet. $ $24,450$

b$.$ Prepare an income statement and owner's equity statement for the month of March and a classified

b$.$ Net income $$2,420$ Total assets $$17,680$ balance sheet at March $31.$ T$.$ Warren 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 the worksheet.

P$4.($LO $1,2,4),$ AP Financial Statement The adjusted trial balance columns of the worksheet for

Complete workshheet: prepar

statements, closing entries, Nguyen Company, owned by C$.$ Nguyen, are as follows.