Question

Exercise 4-01 The trial balance columns of the worksheet for Ivanhoe Company at June 30, 2020, are as follows. Dr. Ivanhoe Company Worksheet For the Month Ended June 30, 2020 Trial Balance Account Titles Cr. Cash 2,200 Accounts Receivable 2,700 Supplies 2,000 Accounts Payable 1,000 Unearned Service Revenue 420 Owner's Capital 2,780 Service Revenue 3,600 Salaries and Wages Expense 660 Miscellaneous Expense 240 Total 7,800 7,800 Other data: 1. A physical count reveals $400 of supplies on hand. 2. $120 of the unearned revenue is still unearned at month-end. 3. Accrued salaries are $220. Complete the worksheet.

Answer 1

IVANHOE COMPANY Work Sheet 30-Jun-20 Trial Balance | Adjustments || Adjusted Trial Balance | Income Statement || Balance Sheet Debit Credit || Debit Credit | Debit Credit || Debit Credit || Debit Credit Account Title 2200 2700 2000 2200 2700 400 2200 2700 400 1600 300 Cash Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Owner's Capital Service Revenue Salaries and Wages Expense Miscellaneous Expense Totals 1000 420 2780 3600 1000 120 2780 3900 1000 1201 27801 300 3900 220 880 660 240 7800 880 240 240 7800 1600 1600 1600 Supplies Expense Salaries and Wages Payable 220 220 220 2120 2120 8020 8 020 3900 5300 Totals Net Income 2720 1180 3900 4120 1180 53001 3900 5300