Question

The trial balance columns of the worksheet for Ayayai at March 31, 2019, are as follows. Ayayai Worksheet For the Month Ended March 31, 2019 Trial Balance Account Titles Dr. Cr. Cash 4,800 Accounts Receivable 3,700 Supplies 2,430 Equipment 11,000 Accumulated Depreciation—Equipment 1,250.0 Accounts Payable 2,620 Unearned Service Revenue 510 Common Stock 10,045 Retained Earnings 4,115 Dividends 1,200 Service Revenue 6,000 Salaries and Wages Expense 1,040 Miscellaneous Expense 370 24,540 24,540 Other data: 1. A physical count reveals only $400 of roofing supplies on hand. 2. Depreciation for March is $250. 3. Unearned service revenue amounted to $220 at March 31. 4. Accrued salaries are $800.

Problem 4-01A a-d The trial balance columns of the worksheet for Ayayai at March 31, 2019, are as follows. Dr. Ayayai Worksheet For the Month Ended March 31, 2019 Trial Balance Account Titles Cr. Cash 4,800 Accounts Receivable 3,700 Supplies 2,430 Equipment 11,000 Accumulated Depreciation Equipment 1,250.0 Accounts Payable 2,620 Unearned Service Revenue 510 Common Stock 10,045 Retained Earnings 4,115 Dividends 1,200 Service Revenue 6,000 Salaries and Wages Expense 1,040 Miscellaneous Expense 370 24,540 24,540 Other data: 1. 2. 3. 4. A physical count reveals only 5400 of roofing supplies on hand. Depreciation for March is $250. Unearned service revenue amounted to $220 at March 31. Accrued salaries are $800.

Answer 1

Account Titles Adjustements Dr Cr $ 2,030 $ 250 Trial Balance Dr Cr $ 4,800 $ 3,700 $ 2,430 $ 11,000 $ 1,250 $ 2,620 $ 510 $ 10,045 $ 4,115 $ 1.200 $ 6,000 $ 1,040 $ 370 S 24,540 $ 24,540 Balance Sheet Dr Cr $ 4.800 $ 3,700 $ 400 $ 11,000 $ 1,500 $ 2,620 $ 220 $ 10,045 $ 4,115 $ 1.200 Adjusted Trial Balance Income Statement Dr Cr Dr Cr $ 4,800 $ 3,700 $ 400 $ 11,000 $ 1,500 $ 2.620 220 $ 10,045 $ 4,115 $ 1.200 $ 6,290 $ 6,290 $ 1,840 $ 1,840 $ 370 $ 370 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation -Equipment Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividend Service Revenue Salaries & wages expenses Miscellaneous expenses Totals Supplies expenses Depreciation expenses Salaries & wages payable Totals $ 290 $ 290 $ 800 $ 2,030 $ 250 $ $ 2,030 250 $ 2,030 $ 250 $ 800 $3,370 $ S 800 25,590 $3,370 S 25,590 6,290 $21,100 $ 800 $ 19,300 S 1,800 $ 21,100 S 4,490S $ 1,800 $ 6,290 S Net Income 6,290 $21,100

Debit Credit $2,030 $2,030 $ 250 $ 250 $ 290 $ 290 $ 800 $ 800 Adjusting entries Date Accounts Title Mar-31 Supplies expenses Supplies Mar-31 Depreciation expenses Accumulated Depreciation - Equipment Mar-31 Unearned Service Revenue Service Revenue Mar-31 Salaries & wages expenses Salaries & wages payable Closing Entries Mar-31 Service Revenue Income Summary Income Summary Mar-31 Salaries & wages expenses Miscellaneous expenses Supplies expenses Depreciation expenses Mar-31 Retained earnings Income Summary $6,290 $6,290 $4,490 $1,840 $ 370 $2.030 $ 250 $1,800 $1,800

$6,290 Income Statement Service Revenue Less: Salaries & wages expenses $ Miscellaneous expenses Supplies expenses $ Depreciation expenses Net Income 1,840 370 2,030 250 $1,800 $ 8.900 Statement of Retained Earnings Opening of Retained Earnings $ 4,115 Add: Net Income $ 1,800 Less: Dividend $ -1,200 Closing of Retained Earnings $ 4,715 Balance Sheet Assets Current Assets: Cash | $ 4,800 Accounts Receivable $ 3,700 Supplies $ 400 Total Current Assets Property,Plant & Equipment Equipment $ 11,000 Less:Accumulated Depreciation $ -1,500 Total Assets Liabilities & Stcokholder's Equity Current Liabilities: Accounts Payable $ 2,620 Salaries & wages payable $ 800 Unearned Service Revenue $ 220 Total Current Liabilities Stockholder's Equity Common Stock $ 10,045 Retained Earnings $ 4,715 Total Liabilities & Stockholder's Equity $ $ 9,500 18,400 $ 3,640 $ $ 14,760 18,400