The trial balance columns of the worksheet using a perpetual inventory system for Pharoah Company at June 30, 2022, are as follows.Other data:1. A physical count reveals $690 of inventory on hand.2. $400 of the unearned revenue is still unearned at month-end.Complete the worksheet. Omit the entry to record cost of goods sold.PHAROAH COMPANYWorksheetFor the Month Ended June 30, 2022 Trial Balance Adjustments Adj. Trial Balance Income Statement Balance SheetAccount Titles Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.Cash $3,740 $ $ $ $ $ $ $ $ Accounts Receivable 3,490 Inventory 2,090 Accounts Payable $1,990 Unearned Sales Revenue 670 Owner’s Capital 4,150 Sales Revenue 3,500 Salaries and Wages Expense 760 Miscellaneous Expense 230 Totals $10,310 $10,310 Cost of Goods Sold Totals $ $ $ $ Net Income Totals $ $ $ $

The trial balance is the statement showing list of balances of all ledger accounts of an entity as…

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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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The trial balance columns of the worksheet using a perpetual inventory system for Pharoah Company at June 30, 2022, are as follows.

Other data:
1. A physical count reveals $690 of inventory on hand.
2. $400 of the unearned revenue is still unearned at month-end.

Complete the worksheet. Omit the entry to record cost of goods sold.

PHAROAH COMPANY Worksheet For the Month Ended June 30, 2022
	Trial Balance	Adjustments	Adj. Trial Balance	Income Statement	Balance Sheet
Account Titles	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.
Cash	$3,740		$	$	$	$	$	$	$	$
Accounts Receivable	3,490
Inventory	2,090
Accounts Payable		$1,990
Unearned Sales Revenue		670
Owner’s Capital		4,150
Sales Revenue		3,500
Salaries and Wages Expense	760
Miscellaneous Expense	230
Totals	$10,310	$10,310
Cost of Goods Sold
Totals			$	$	$	$
Net Income
Totals							$	$	$	$

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