Question

The trial balance columns of the worksheet for Bramble at March 31, 2019, are as follows Bramble Worksheet For the Month Ended March 31, 2019 Trial Balance Account Titles Dr. 4,000 3,200 1,970 10,648 Cr. Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Miscellaneous Expense 1,210.0 2,080 470 10,125 1,523 1,020 7,000 1,100 470 22,408 22,408 Other data 1. 2. 3. 4. A physical count reveals only $600 of roofing supplies on hand Depreciation for March is $242 Unearned service revenue amounted to $160 at March 31 Accrued salaries are $700

Answer 1

Bramble Journal entries Date Account Debit Credit Calculation 1 Supplies expense $ 1,370 -1970-600 Supplies $ 1,370 2 Depreciation expense $242 Accumulated Depreciation-Equipment $242 3 Unearned Service Revenue $310 -470-160 Service Revenue $310 4 Salaries & wages expense Salaries & wages Payable 700 700 Closing entries 1 Service Revenue $ 7,310 Income Summa $7,310 2 Income Summa $ 3,882 Salaries & wages expense Miscellaneous expense Supplies expense Depreciation expense $ 1,800 S470 $ 1,370 $242 3 Income Summa $ 3,428 -7310-3882 Retained Earnings S 3,428 3 Retained Earnings $ 1,020 Dividends $ 1,020

Bramble Worksheet Account Names Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries & wages expense Miscellaneous expense Totals Supplies expense Depreciation expense Salaries & wages Payable Totals Net income Totals Adjustments Debit Credit Debit Credit Adjusted TB Debit Credit DebitCredit Deb Unadjusted TB Income Statement Balance Sheet itCred it Calculation 4,000 3,200 1,970 10,648 4,000 3,200 600 10,648 4,000 3,200 600 10,648 1,370 1,210 2,080 470 10,125 1,523 242 1,452 1,452 310 160 10,125 1,523 160 10,125 3,931 1523-1020+3428 1,020 1,020 Opening Bal-Dividends+Net income 7,000 310 7,310 7,310 1,100 470 700 1,800 470 1,800 470 22,408 22,408 1,370 242 1,370 242 1,370 242 700 700 700 2,622 2,62223,350 23,350 3,882 7,310 18,448 18,448 3,428 7,310 7,31018,448 18,448

Bramble Income Statement For month ended Mar 31, 2019 Revenues Service Revenue Expenses Salaries & wages expense Supplies expense Miscellaneous expense Depreciation expense Total Expenses Net Income 7,310 1,800 1,370 470 242 3,882 3,428 Statement of Retained Earnings For month ended Mar 31, 2019 Beginning balance Net Profit Less Dividends paid Ending Balance 1,523 3,428 1,020 3,931

Bramble Balance Sheet As of Mar 31, 2019 Assets Current Assets Cash Accounts Receivable Supplies Total Current Assets 4,000 3,200 600 7,800 Fixed Assets Equipment Accumulated Depreciation-Equipment Net Fixed Assets Total Assets 10,648 (1,452) 9,196 16,996 Liabilities & Stockholders Equit Current Liabilities Accounts Payable Unearned Service Revenue Salaries & wages Payable Total Current Liabilities 2,080 160 700 2,940 Stockholders Equity Common Stock Retained earnings Total Stockholders Equity Total Liabilities & Stockholders Equity 10,125 3,931 14,056 16,996