The trial balance columns of the worksheet for Firmament 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 $290 at March 31.
4. Accrued salaries are $480.

Instructions
(a) Enter the trial balance on a worksheet and complete the worksheet.
(b) Prepare an income statement and a retained earnings statement for the month of March and a classified balance sheet at March 31. Common stock of $10,000 was issued for cash at the beginning of 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:

Firmament Roofing Worksheet For the Month Ended March 31, 2014 Trial Balance Dr 2,720 2,700 1,500 1,000 Account Titles Cr. Cash Accounts Rcccivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Uncarned Service Revcnuc Common Stock Dividends Service Revenuc Salaries and Wages Expense Miscellancous Expense 1,250 2,500 550 10,000 1.100 6,300 1,300 280 20,600 20,600