Question

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Exercise 4-01 The trial balance columns of the worksheet for Nanduri Company at June 30, 2019, are as follows. Nanduri Company Worksheet For the Month Ended June 30, 2019 Trial Balance Account Titles Dr. Cash 2,320 Accounts Receivable 2,440 Supplies 1,880 Accounts Payable 1,120 Unearned Service Revenue 240 Common Stock 3,600 Service Revenue 2,400 Salaries and Wages Expense 560 Miscellaneous Expense 160 7,360 7,360 Other data: 1. 2. 3. A physical count reveals $500 of supplies on hand. $100 of the unearned revenue is still unearned at month-end. Accrued salaries are $210. Complete the worksheet.

Answer 1

Nanduri Company Adjusting Enteries Trans. Particulars i Supplies Expense a/c To Supplies (Supplies Expensed) Dr. Debit in $ Credit in 1380 1380 2 Unearned Service Revenue a/c Dr. To Service Revenue (Revenue recognized) 240 - 100 140 Salaries and Wages Expense a/c Dr. To Salaries and Wages Payable (Salary accrued) 210

Worksheet For the month ending 30.6.2019 Particulars Cash Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Miscellaneous Expense Totals Supplies Expense Salaries and Wages Payable Totals Net Income Totals Trial Balance Adjustments Adjusted Income Statement Balance sheet Debit in $ Credit in $ Debit in $ Credit in $ Debit in $ Credit in $ Debit in $ Credit in $ Debit in $ Credit in $ 2320 2320 2320 2440 2440 2440 1880 1380 500 500 1120 1120 1120 240 140 100 100 3600 3600 3600 230 2400 140 2540 2540 210 770 770 160 160 160 7360 7360 1380 1380 1380 210 210 210 1730 1730 7570 7570 2310 2540 230 2540 2540 5260 5260 560