The trial balance columns of the worksheet for Cullumber Roofing at March 31, 2020, are as follows. Cullumber Roofing Worksheet For the Month Ended March 31, 2020     Trial Balance Account Titles   Dr.   Cr. Cash   4,600     Accounts Receivable   3,300     Supplies   2,330     Equipment   10,956     Accumulated Depreciation—Equipment       1,245 Accounts Payable       2,420 Unearned Service Revenue       690 Owner’s Capital       12,481 Owner’s Drawings   1,080     Service Revenue       6,900 Salaries and Wages Expense   1,010     Miscellaneous Expense   460          23,736   23,736 Other data: 1.   A physical count reveals only $500 of roofing supplies on hand. 2.   Depreciation for March is $249. 3.   Unearned revenue amounted to $230 at March 31. 4.   Accrued salaries are $600.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The trial balance columns of the worksheet for Cullumber Roofing at March 31, 2020, are as follows.

Cullumber Roofing
Worksheet
For the Month Ended March 31, 2020
   
Trial Balance
Account Titles
 
Dr.
 
Cr.
Cash
  4,600    
Accounts Receivable
  3,300    
Supplies
  2,330    
Equipment
  10,956    
Accumulated Depreciation—Equipment
      1,245
Accounts Payable
      2,420
Unearned Service Revenue
      690
Owner’s Capital
      12,481
Owner’s Drawings
  1,080    
Service Revenue
      6,900
Salaries and Wages Expense
  1,010    
Miscellaneous Expense
  460     
    23,736   23,736


Other data:

1.   A physical count reveals only $500 of roofing supplies on hand.
2.   Depreciation for March is $249.
3.   Unearned revenue amounted to $230 at March 31.
4.   Accrued salaries are $600.
Journalize the adjusting entries from the adjustments columns of the worksheet. (Credit account tith
Date Account Titles and Explanation
Debit
Credit
Mar. 31
(Adjusting entry for supplies)
Mar. 31
(Adjusting entry for depreciation)
Mar. 31
(Adjusting entry for unearned service revenue)
Mar. 31
Transcribed Image Text:Journalize the adjusting entries from the adjustments columns of the worksheet. (Credit account tith Date Account Titles and Explanation Debit Credit Mar. 31 (Adjusting entry for supplies) Mar. 31 (Adjusting entry for depreciation) Mar. 31 (Adjusting entry for unearned service revenue) Mar. 31
Date Account Titles and Explanation
Debit
Credit
Mar. 31
(To close revenue account)
Mar. 31
(To close expense accounts)
Mar. 31
(To close net income / (loss))
Mar. 31
(Te cloce draw inac)
Transcribed Image Text:Date Account Titles and Explanation Debit Credit Mar. 31 (To close revenue account) Mar. 31 (To close expense accounts) Mar. 31 (To close net income / (loss)) Mar. 31 (Te cloce draw inac)
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