Question

Problem 4-01A a-d The trial balance columns of the worksheet for Lampert Roofing at March 31, 2019, are as follows. Lampert Roofing Worksheet For the Month Ended March 31, 2019 Trial Balance - Account Titles Dr. Cash 4,500 Accounts Receivable 3,200 Supplies 2,000 Equipment 11,000 Accumulated Depreciation-Equipment 1,250 Accounts Payable 2,500 Unearned Service Revenue 550 Common Stock 10,000 Retained Earnings 2,900 Dividends 1,100 Service Revenue 6,300 Salaries and Wages Expense 1,300 Miscellaneous Expense 400 23,500 23,500 Other data: 1. A physical count reveals only $550 of roofing supplies on hand. 2. Depreciation for March is $250. 3. Unearned service revenue amounted to $210 at March 31. 4. Accrued salaries are $700.

Answer 1

H I J K u Awn- B / C D E F G Lampert Roofing Worksheet For the month ended March 31, 2019 Unadjusted T/B Adjustments Adjusted T/B Account Titles Debit ($) Credit ($) | Debit ($) Credit ($) Debit ($) Credit ($) 6 Cash $ 4,500 $ 4,500 7 Accounts Receivable $ 3,200 $ 3,200 8 Supplies $ 2,000 $ 1,450 $ 550 T 9 Equipment $ 11,000 $ 11,000 10 Accumulated Depreciation - Equipment $ 1,250 $ 250 $ 1,500 11 Accounts Payable $ 2,500 $ 2,500 12 Unearned Service Revenue $ 550$ 340 $ 210 13 Common Stock $ 10,000 $ 10,000 14 Retained Earnings $ 2,900 $ 2,900 15 Dividends $ 1,100 $ 1,100 16 Service Revenue $ 6,300 $ 340 $ 6,640 17 Salaries and Wages Expense | $ 1,300 $ 700 $ 2,000 18 Miscellaneous Expense $ 400 $ 400 Income Statements Balance Sheet Debit ($) Credit ($) | Debit ($) Credit ($) $ 4,500 $ 3,200 $ 550 $ 11,000 $ 1,500 $ 2,500 $ 210 $ 10,000 $ 2,900 $ 1.100 $ 6,640 $ 2,000 $ 400 19 $ 23,500 $ 23.500 $ $ 1,450 250 $ $ 1,450 250 $ $ 1,450 250 $ 700 $ 700 $ 700 20 Total 21 Supplies Expense 22 Depreciation Expense 23 Salaries and Wages Payable 24 25 Total 26 Net Income 27 Total $ 2,740 $ 2,740 $ 24,450 $ 24,450 | $ $ 2.540 6,640 $ $ 2,540 $ 20,350 6,640 $ 20,350 28

O P s 6,640 M N Lampert Roofing Income Statement For the month ended March 31, 2019 Revenue 5 Service Revenue $ 6 Less: Expenses 7 Salaries and Wages Expesne $ 2,000 18 Miscellaneous Expense $ 400 9 Supplies Expense $ 1,450 10 Depreciation Expense $ 250 11 Total Expense $ 12 Net Income $ 8.250 4,100 2,540 Q -R Lampert Roofing Balance Sheet as on March 31, 2019 Assets Current Assets Cash $ 4,500 Accounts Receivable $ 3,200 Supplies $ 550 Total Current Assets Property, Plant and Equipment Equipment $ 11,000 Less: Accumulated Depreciation - Equipment $ 1,500 Total Assets Liabilities and Stockholder's Equity Current Liabilities Accounts Payable $ 2,500 Salaries and Wages Payable $ 700 Unearned Service Revenue $ 210 Total Current Liabilities Stockholder's Equity Common Stock $ 10,000 Retained Earnings $ 4,340 Total Stockholder's Equity Total Liabilities and Stockholder's Equity $ $ 9,500 17,750 13 Lampert Roofing Statement of Retained Earnings For the month ended March 31, 2019 17 Retained Earnings, March 1 $ 18 Add: Net Income $ 19 $ 20 Less: Dividends $ 21 Retained Earnings, March 31 | $ 2,900 2,540 5,440 1,100 4,340 $ 3,410 $ $ 14,340 17,750

x Y Z AA AE Date Credit ($) Date Credit ($) Debit ($) $ 1,450 $ 1,450 $ 6,640 am too $ 250 2 w Adjusting Journal Entries Account Titles Supplies Expense Supplies (To record supplies expense) Depreciation Expense - Equipment Accumulated Depreciation - Equipment (To record depreciation Expense) Unearned Service Revenue Service Revenue (To record the service revenue) Salaries and Wages Expense Salaries and Wages Payable (To record salaries accrued) $ 250 AB AC I AD Closing Jouranl Entries Account Titles Debit ($) Service Revenue $ 6,640 Income Summary (To close revenue accounts) Income Summary $ 4,100 Salaries and Wages Expesne Miscellaneous Expense Supplies Expense Depreciation Expense (To close expense accounts) Income Summary $ 2,540 Retained Earnings |(To close net income) Retained Earnings $ 1,100 Dividends |(To close dividends) $ $ $ $ 2,000 400 1,450 250 3 $ 340 $ 340 12 $ 700 3 $ 700 $ 2,540 13 14 15 $ 1,100 17 18 10.

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