Question: Problems:Set A P4.1A (LO 1, 2, 4) Financial Statement The trial balance columns of the worksheet for Warren Roofing at March 31, 2020, are as

Problems:Set A P4.1A (LO 1, 2, 4) Financial Statement The trial balance columns of the worksheet for Warren Roofing at March 31, 2020, are as follows. nting Cycle Warren Roofing Worksheet For the Month Ended March 31, 2020 Trial Balance Account Titles Cr. Dr. 4,500 2,000 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipmert Accounts Payable Unearned Service Revenue Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Miscellaneous Expense 11,000 1,250 2,500 550 12,900 1,100 6,300 1,300 400 23,500 23,500 Other data: 1. A physical count reveals only $480 of roofing supplies on hand. 2. Depreciation for March is $250. 3. Unearned revenue amounted to $260 at March 31 4. Accrued salaries are $700 Instructions balance 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 bal 420 7,680 ance 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
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
