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The trial balance columns of the worksheet for Marigold at March 31, 2019, are as follows.

The trial balance columns of the worksheet for Marigold at March 31, 2019, are as follows.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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### Marigold Worksheets: Trial Balance #### For the Month Ended March 31, 2019 The trial balance columns of the worksheet for Marigold at March 31, 2019, are as follows: #### Account Titles | Account Titles | Dr. (\$) | Cr. (\$) | |-------------------------------------|-----------------|-----------------| | Cash | 5,000 | | | Accounts Receivable | 2,800 | | | Supplies | 1,740 | | | Equipment | 11,088 | | | Accumulated Depreciation—Equipment | | 1,260 | | Accounts Payable | | 2,000 | | Unearned Service Revenue | | 440 | | Common Stock | | 10,295 | | Retained Earnings | | 2,873 | | Dividends | 1,170 | | | Service Revenue | | 6,500 | | Salaries and Wages Expense | 1,100 | | | Miscellaneous Expense | 470 | | **Totals**: - Debit: \$23,368 - Credit: \$23,368 --- #### Other Data: 1. A physical count reveals only \$400 of roofing supplies on hand. 2. Depreciation for March is \$252. 3. Unearned service revenue amounted to \$220 at March 31. 4. Accrued salaries are \$700. --- ##### Instructions: Enter the trial balance on a worksheet and complete the worksheet. --- This table and the instructions above play a critical role in ensuring accuracy in financial reporting by maintaining accurate trial balances, which are fundamental for generating accurate financial statements. The worksheet provided allows a company to organize financial data in a structured manner, providing clarity and facilitating the preparation of an accurate and comprehensive accounting report.
Transcribed Image Text:### Marigold Worksheets: Trial Balance #### For the Month Ended March 31, 2019 The trial balance columns of the worksheet for Marigold at March 31, 2019, are as follows: #### Account Titles | Account Titles | Dr. (\$) | Cr. (\$) | |-------------------------------------|-----------------|-----------------| | Cash | 5,000 | | | Accounts Receivable | 2,800 | | | Supplies | 1,740 | | | Equipment | 11,088 | | | Accumulated Depreciation—Equipment | | 1,260 | | Accounts Payable | | 2,000 | | Unearned Service Revenue | | 440 | | Common Stock | | 10,295 | | Retained Earnings | | 2,873 | | Dividends | 1,170 | | | Service Revenue | | 6,500 | | Salaries and Wages Expense | 1,100 | | | Miscellaneous Expense | 470 | | **Totals**: - Debit: \$23,368 - Credit: \$23,368 --- #### Other Data: 1. A physical count reveals only \$400 of roofing supplies on hand. 2. Depreciation for March is \$252. 3. Unearned service revenue amounted to \$220 at March 31. 4. Accrued salaries are \$700. --- ##### Instructions: Enter the trial balance on a worksheet and complete the worksheet. --- This table and the instructions above play a critical role in ensuring accuracy in financial reporting by maintaining accurate trial balances, which are fundamental for generating accurate financial statements. The worksheet provided allows a company to organize financial data in a structured manner, providing clarity and facilitating the preparation of an accurate and comprehensive accounting report.
**Marigold Worksheet** This section presents a detailed financial worksheet designed to aid in the preparation of related financial statements. The worksheet consists of several components, organized into different columns to facilitate tracking and balancing of financial transactions. ### Account Titles and Balances #### Trial Balance The "Trial Balance" section provides the initial amounts for accounts that need to be verified. It is organized into debit (Dr.) and credit (Cr.) columns to ensure that both sides balance. Below are the details: - **Cash:** Dr. 5,000 - **Accounts Receivable:** Dr. 2,800 - **Supplies:** Dr. 1,740 - **Equipment:** Dr. 11,088 - **Accumulated Depreciation—Equipment:** Cr. 1,260 - **Accounts Payable:** Cr. 2,000 - **Unearned Service Revenue:** Cr. 440 - **Common Stock:** Cr. 10,295 - **Retained Earnings:** Cr. 2,873 - **Dividends:** Dr. 1,170 - **Service Revenue:** Cr. 6,500 - **Salaries and Wages Expense:** Dr. 1,100 - **Miscellaneous Expense:** Dr. 470 The totals for the trial balance are: - Debit (Dr.): 23,368 - Credit (Cr.): 23,368 #### Adjustments The "Adjustments" section is currently blank. This section would typically include any necessary adjusting entries to account for accrued expenses, prepaid expenses, depreciation, unearned revenues, etc. #### Adjusted Trial Balance The "Adjusted Trial Balance" section is also blank. After adjustments are made, this section would reflect the updated balances. ### Income Statement The "Income Statement" section remains unfilled. This section would summarize revenues and expenses to calculate net income or loss for the period. ### Balance Sheet The "Balance Sheet" section is empty as well. This section would summarize assets, liabilities, and equity to present the financial position at a specific point in time. ### Additional Account Titles There are more account titles listed that are currently unused in the trial balance or adjustments: - **Supplies Expense** - **Depreciation Expense** - **Salaries and Wages Payable** ### Calculation of Totals The worksheet helps in calculating the totals at various stages — trial balance, adjusted
Transcribed Image Text:**Marigold Worksheet** This section presents a detailed financial worksheet designed to aid in the preparation of related financial statements. The worksheet consists of several components, organized into different columns to facilitate tracking and balancing of financial transactions. ### Account Titles and Balances #### Trial Balance The "Trial Balance" section provides the initial amounts for accounts that need to be verified. It is organized into debit (Dr.) and credit (Cr.) columns to ensure that both sides balance. Below are the details: - **Cash:** Dr. 5,000 - **Accounts Receivable:** Dr. 2,800 - **Supplies:** Dr. 1,740 - **Equipment:** Dr. 11,088 - **Accumulated Depreciation—Equipment:** Cr. 1,260 - **Accounts Payable:** Cr. 2,000 - **Unearned Service Revenue:** Cr. 440 - **Common Stock:** Cr. 10,295 - **Retained Earnings:** Cr. 2,873 - **Dividends:** Dr. 1,170 - **Service Revenue:** Cr. 6,500 - **Salaries and Wages Expense:** Dr. 1,100 - **Miscellaneous Expense:** Dr. 470 The totals for the trial balance are: - Debit (Dr.): 23,368 - Credit (Cr.): 23,368 #### Adjustments The "Adjustments" section is currently blank. This section would typically include any necessary adjusting entries to account for accrued expenses, prepaid expenses, depreciation, unearned revenues, etc. #### Adjusted Trial Balance The "Adjusted Trial Balance" section is also blank. After adjustments are made, this section would reflect the updated balances. ### Income Statement The "Income Statement" section remains unfilled. This section would summarize revenues and expenses to calculate net income or loss for the period. ### Balance Sheet The "Balance Sheet" section is empty as well. This section would summarize assets, liabilities, and equity to present the financial position at a specific point in time. ### Additional Account Titles There are more account titles listed that are currently unused in the trial balance or adjustments: - **Supplies Expense** - **Depreciation Expense** - **Salaries and Wages Payable** ### Calculation of Totals The worksheet helps in calculating the totals at various stages — trial balance, adjusted
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