Question

Blue Spruce Worksheet For the Month Ended March 31, 2019 Trial Balance Account Titles Dr. Cr. Cash 4,400 Accounts Receivable 3,200 1,670 Supplies Equipment 11,440 Accumulated Depreciation --Equipment 1,300.0 Accounts Payable 2,540 Unearned Service Revenue Common Stock 630 10,405 1,665 Retained Earnings Dividends 1,070 Service Revenue 6.700 Salaries and Wages Expense 1.130 Miscellaneous Expense 330 23.240 23.240.

Answer 1

Blue Spruce Adjusting entries Date Account 1 Supplies expense Supplies Credit Debit $ 1,070 Calculation =1,670-600 $ 1,070 2 $ 260 Depreciation expense Accumulated Depreciation - Equipment $ 260 3 $ 410 =630-220 Uneanred Service Revenue Service Revenue $ 410 $ 800 $ 800 4 Salaries and Wages expense Salaries and Wages Payable Closing entries CJE 1 Service Revenue Income Summary $ 7,110 $ 7,110 $ 3,590 CJE 2 Income Summary Salaries and Wages expense Miscellaneous expense Supplies expense Depreciation expense $ $ $ $ 1,930 330 1,070 260 $ 3,520 CJE 3 Income Summary Retained Earnings $ 3,520 $ 1,070 CJE 4 Retained Earnings Dividends $ 1,070

Adjustments Debit Credit 1,070 Unadjusted TB Debit Credit 4,400 3,200 1,670 11,440 1,300 2,540 630 10,405 1,665 1,070 Post Closing TB Debit Credit 4,400 3,200 600 11,440 1,560 2,540 220 10,405 Blue Spruce Account Names Cash Accounts Receivable Supplies Equipment Accumulated Depreciation - Equipment Accounts Payable Uneanred Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages expense Miscellaneous expense Supplies expense Depreciation expense Salaries and Wages Payable Totals Check Balance Sheet Debit Credit 4,400 3,200 600 11,440 1,560 2,540 220 10,405 1,665 1,070 260 410 Adjusted TBncome Statemen Debit Credit Debit Credit 4,400 3,200 600 11,440 1,560 2,540 220 10,405 1,665 1,070 7,110 7,110 1,930 1,930 330 330 1,070 1,070 260 260 800 24,300 24,300 3,590 7,110 3,520 7,110 7,110 4,115 6,700 410 800 1,130 330 1,070 260 800 2,540 800 19,640 23,240 23,240 2,540 20,710 19,640 800 17,190 3,520 20,710 20,710

7,110 Blue Spruce Income Statement For the Month Ended March 31, 2019 Revenues Service Revenue Expenses Salaries and Wages expense Miscellaneous expense Supplies expense Depreciation expense Total Expenses Net Income 1,930 330 1,070 260 3,590 3,520 Statement of Retained Earnings For the Month Ended March 31, 2019 Beginning balance, March 1, 2019 Add: Net Income 1,665 3,520 5,185 (1,070) 4,115 Less: Dividends Ending Balance, March 31, 2019

Blue Spruce Balance Sheet As of March 31, 2019 Assets Current Assets Cash Accounts Receivable Supplies Total Current Assets 2,540 Liabilities & Stockholders Equity Liabilities 4,400 Accounts Payable 3,200 Uneanred Service Revenue 600 Salaries and Wages Payable 8,200 Total Liabilties 220 800 3,560 Property, Plant & Equipment Equipment Accumulated Depreciation - Equipment Total Property, Plant & Equipment Stockholders Equity 11,440 Common Stock (1,560) Retained earnings 9,880 Total Stockholders Equity 10,405 4,115 14,520 Total Assets 18,080 Total Liabilities & Stockholders Equity 18,080